Making the CAP fit

Nearly 150 members of the South West farming community gathered at three separate events for Stephens Scown’s Autumn Agricultural Updates, in conjunction with AMC and Old Mill.

The events, which took place in Lifton, Ashburton and Cullompton, highlighted topics such as an update on tax on profits, capital taxes in agriculture, a brief update on dairy farm economics, and the current position and future outlook for agricultural finance. Nigel Edge, from the rural team at Stephens Scown, provided an update regarding the story so far with CAP reform, with his colleague, Mike Rowe, Renewables Consultant, discussing renewable energy and how to combat rising energy prices.

All expert speakers agreed that the "devil will be in the detail" when the recently agreed new European legislation comes into force in January 2015.

Nigel Edge, a solicitor in the rural team at Stephens Scown, commented: “There are still uncertainties which will affect the new rules, such as the outcome of the Euro elections in May this year. There are also certainties, with the CAP no longer a common agriculture policy, though it remains a food policy and has become an environmental policy.” Nigel concluded: "Don't worry, in five years' time we shall all be back here, looking at a whole lot of new CAP proposals!"

Westcountry-based Stephens Scown LLP is an award-winning legal firm with offices in Exeter, Truro and St Austell. Stephens Scown LLP has over 40 partners and 230 staff and is one of the largest law firms in Devon and Cornwall, offering a broad range of expert business and personal legal services, as well as expertise in a number of market sectors.

Founded in 1938, Stephens Scown LLP is consistently ranked highly in the UK’s top two independent legal guides, Chambers and Legal 500. For more information www.stephens-scown.co.uk