A survey conducted by the Department for Environment, Food and Rural Affairs (DEFRA) considered farm business practices and found that 38% of respondents are using financial or management accounting software, with Farmplan leading the way in the industry.
Held in October 2018 – before Making Tax Digital (MTD) – the survey was completed by just over 2,700 farm holdings in England, who answered questions regarding a variety of topics including innovation, market prices, and soil management.
The survey also focused on farms and their use of accounting packages, and Farmplan’s accounts solutions came out on top as the most common package used. Of the respondents in the survey, over 320 people stated that they used Farmplan- more than direct competitors such as Key and Sum-it, and more than generic business accounting software providers like Sage, Xero and Quickbooks.
Taken from DEFRA Farm Practices Survey 2018
With Making Tax Digital now live, the results from October 2018 may have changed, particularly regarding the number of farm businesses that do not use any software. Since the DEFRA survey results were collected in October 2018, Farmplan have welcomed almost 500 new customers who have started using accounts software and more than 1150 MTD submissions have been completed through their accounts programs to date.
Piers Costley, Director at Farmplan, said: “It’s great to see that Farmplan’s account software is a popular choice for farm businesses across England. Ensuring our software was MTD-ready was extremely important to us and we’re pleased to see the results from the DEFRA survey speak positively in our favour.
“Making Tax Digital represents an important change in the industry, and we are committed to helping our customers embrace the change and move forward.”
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You can access the full survey produced by DEFRA here.