NEWS LETTER

Single Payment to Continue – At Least For Now

The present Single Payment Scheme, which was introduced in 2005 and had an initial term through to 2012, now looks set to continue until at least 2013, perhaps 2014 and possibly beyond that. Final negotiations between EU Member States are still some way off but initial indications are of an agreement which will see the current system remain in place for some years yet.

After the 2011 claim year all English farmers will be on the same flat rate area basis of approximately € 325 per hectare before modulation deductions. Modulation rates are presently set until 2012, but if the Single Payment Scheme does continue past this then there is a risk that modulation may be reviewed upwards. This is as a result of the balancing of payments between East and Western European Member States and, of course, pressures on the overall EU agricultural budget.

In terms of the 2010 SPS payment, at the time of writing the Euro is hovering at around 82p, down 10% from last year’s conversion rate of just under 91p. The exact 2010 conversion rate will be set according to the official exchange rate as at September 30th.

Even with the increased commodity prices of recent times, farmers and landowners are increasingly reliant on European and Government financial support schemes, which themselves are becoming ever more diverse and complex.

Moore Allen & Innocent provides expert advice on the Single Payment Scheme, environmental schemes, rural development grant schemes as well as local support schemes available only in targeted areas. We are able to signpost farmers and landowners to the most appropriate scheme and advise on the application and submission for such payments.

For further information regarding how we can assist you in reviewing your business and maximising the payments and opportunities available, contact a member of the Agricultural Team on 01285 648 107 or email: farmmanagement@mooreallen.co.uk.

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Farm Rents - Do You Need to Review ?

The recent increase in arable prices will inevitably have a direct effect on rents, (possibly up and down depending on arable or livestock?), and a key notice date in the agricultural calendar is fast approaching.

We can help you with all aspects of rent reviews, both for traditional Agricultural Holdings Act (AHA) tenancies and Farm Business Tenancies (FBT). An agricultural tenancy rent review is a highly technical area, dominated by statute with differing legislative regimes applicable depending on whether the tenancy is AHA or FBT.

Very often, the best place to start for any review is with the production of a comprehensive farm budget. The Agricultural team at Moore Allen & Innocent has a wealth of experience to help you with this, in addition to providing comparable rental evidence from our extensive local knowledge of the rental market, which can prove critical in negotiations on settling a fair rent.

From objective and professional advice on options, to service of the initial notice and conducting any subsequent negotiations or arbitration, we can help you. For further information on farm rents and rent review provisions contact a member of the Agricultural Team on 01285 648 107.

Are Your Farm Buildings Adequately Insured ?

We continue to see cases where Clients have to make claims on farm buildings insurance only to find that either policies won’t pay out or will only pay part of the cost of a claim. Generally, these cases fall into 2 groups:

1. Buildings in Poor Repair
   With ever greater pressures on farm budgets and less labour available, often routine building repairs are one of the first items to slip. Not only does this leave the farm with a potentially huge repair bill in the future, but also many insurance policies require buildings to be maintained in good condition. If buildings are in poor condition it is important that these are declared if you wish them to be covered.
   
   
2. Under Valuation
   Many polices are renewed annually without any great thought being given to the values being covered. With greater legal requirements to be met when a building needs to be replaced, such as the proper disposal of asbestos and the use of traditional materials in the case of listed buildings, it is essential that the full rebuild cost is insured.

Moore Allen and Innocent is approved by the RICS to handle insurance business including advice on choosing policies, obtaining quotes and liaising with insurers. Our Agricultural Team is qualified to carry out insurance valuations of both agricultural and residential properties, so if you have any concerns about the cover you currently have in place and would value impartial advice, contact a member of the Agricultural Team on 01285 648 107.

Looking to Let ? – Then Let Us

As well as being one of the Cotswolds largest residential lettings and management teams, Moore Allen & Innocent continues to be one of the busiest. Exceptional applicant demand over the past 6 months has meant that the residential property lettings and management teams in both our Lechlade and Cirencester offices have experienced one of the most active periods ever, letting a record 90 properties in the past 90 days.

Despite continued economic and unemployment uncertainty, the department has recorded an excellent Spring and Summer for rentals with plenty of applicants looking for high quality property to rent.

"The traditionally quieter mid-Summer holiday period has been particularly busy for us and demonstrates that, even though the economy is still experiencing a difficult time, the loss of tenants from redundancies is being tempered by the numbers of people remaining in rented accommodation because they cannot get a mortgage" said Paul Oughton, head of the residential lettings and management team.

Moore Allen & Innocent has a successful track record of safeguarding Clients’ property investments and can provide a bespoke lettings and property management package for any property to ensure that all our Landlords are given the best service and support.

In many cases the reams of Government legislation introduced to the lettings sector over recent years has left Landlords either confused about their obligations, or blissfully ignorant that they are operating outside of the law. Regrettably, when things go wrong, this leaves many with little chance of recompense and at worst, the risk of not regaining possession of their property.

As fully licensed members of the Association of Residential Letting Agents (ARLA) our hands-on experience and expertise relieves investors, developers, private property owners and rural estates of the headache of marketing, administration and optimising income from residential property, whether it is a single dwelling or a portfolio of properties.

We are able to advise on the whole gamut of issues affecting residential lettings, including tenancy deposit protection, energy performance certificates, safety regulations to name a few. We can guide Clients to ensure compliance with these sometimes complex issues and remove the hassle of marketing, letting and management very cost effectively.

Commenting on the recent activity, Paul said, “Having developed a dedicated residential letting and management service we provide an efficient service for landlords tailored to their needs, which is why so many make us their first choice and as a result we continue to go from strength to strength.”

If you have an existing rental property, or are considering investing in buy-to-let, contact Paul Oughton on 01285 648 118 for a  no-obligation appraisal on how we can help you achieve the optimum rental return and remain within the regulations in terms of safety issues, EPC’s, deposit protection, etc.

Up to 110 acres well established standing maize situated between Cirencester and Wootton Bassett in conveniently sized blocks with good road access. Enquiries and further details from Peter Kirby or Emma Buse on 01285 648 115.

Sponsored & attended by Moore Allen & Innocent – The Fairford, Faringdon, Filkins & Burford Ploughing Society PLOUGHING MATCH, & COUNTRY SHOW will be held at Manor Farm, Meysey Hampton on Saturday, September 25th

For clear, objective and professional advice on these or any other agricultural and rural estate issues please contact one of our Agricultural Team:

Robert Young ~ Mark Hill ~ Christopher Graham ~ Paul Oughton ~ Brian Smith
Peter Kirby ~ Stuart Milsom ~ Margaret Bush ~ Gemma Dalton ~ Amy Herring

Tel. 01285 648 113                                                             Fax. 01285 640 494    

This newsletter is produced for guidance only and should not be used as a substitute for professional advice. Accordingly no liability or responsibility for any loss or damage can be accepted by Moore Allen & Innocent or other contributors as a result of any person, company or other organisation acting or refraining from acting upon comment on this newsletter.

• Farm & Estate Management • Sales & Purchases of Rural Properties • Valuations • Estate Planning •
• Landlord & Tenant • Farming Agreements • Auctions • Compensation & Compulsory Purchase •
• Farm Buildings • Expert Witness • Planning & Development • Grants & Quotas • Agri-Environment •
• Woodland • Digital Mapping • Diversification • Employment • Payroll & Accounts •

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