Stock valuations are required by accountants to prepare end of year balance sheets for taxation purposes. The valuation comprises a list of non-capital assets on the farm that are valued in accordance with the advisory note BEN19. The valuation requires an assessment of stock numbers and growing crops, fodder, grain and other produce held on the holding, together with fertiliser, sprays, feedstuffs and other materials purchased but not used.
Symonds & Sampson LLP are well placed to value assets due to our links with livestock markets and fodder sales, which provides us with upto-date evidence of market values. Symonds & Sampson LLP also provide valuations to the Ministry of Agriculture for TB, BSE and Swine Fever compensation as well as insurance claims for livestock, stored produce and growing crops.
Symonds & Sampson LLP can:
- Carry out full assessment of relevant assets
- Provide a certificated valuation for use by accountants
- Subsequently discuss values with the Inland Revenue where necessary