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HMRC internal manual

Business Income Manual

HM Revenue & Customs
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Measuring the profits (particular trades): farming: contents

Agriculture is a major industry in the UK and in some rural areas farmers comprise a significant proportion of the trading population. Farmers and their businesses vary substantially geographically, economically and socially but the tax principles about traders apply equally to them all. In addition, there are specific statutory provisions.

Further guidance can be found in the section on computing the amount to assess as follows:

BIM84000 Averaging
BIM85600 Farming losses


This guidance in the chapters listed below covers technical issues arising from:

  • the application to farmers of the tax principles which apply to all traders,
  • the specific rules about computing farming income for tax purposes,