Partner James Bradley said: "Farm businesses which are in a position to invest will see this as good news, and we have some clients who have been waiting for this funding window to open. With a total of 183 possible options there should be something on the list to appeal to all farm businesses.

"We have seen a range of machinery purchases in previous rounds, primarily focussing on drilling and establishment, but these funds do offer elements to improve systems throughout the production cycle. Farmers should be aware that the scheme is competitive, so applications containing a number of options are more likely to be awarded funds. There is also a system to boost the applications of those businesses that have received less than £10,000 in similar funds to date.

"Support will be offered to the applications that score most highly and offer the best value to the public purse. Our advice is that applicants should consider the scoring provisions detailed within the guidance to ensure their individual score is as high as possible, which could include some items that aren't the primary focus.

"We would also urge businesses to act quickly to ensure there is time to consider the application fully in advance of closure. Funds will be awarded after the window closes and up until the full £46.7million has been allocated, so the sooner you apply, the better."