Agriculture and Landed Estates

Tax and succession planning for farmers and landowners

Rising prices for agricultural land coupled with a robust market in rural residential property have together pushed up the capital value of farm assets. However, just as tax reliefs become more important than at any time in the last twenty years, the reliefs from inheritance tax have become more difficult for farmers and rural businessmen to secure.

Although the scope for mitigating tax has steadily been narrowed, the rewards of the capital tax regime continue to be available for those who live and work in the countryside, provided that the underlying agricultural and business assets are owned and occupied as part of a tax efficient structure. If farming businesses and estates are to evolve and react to changing circumstances both within the owning family and the wider agricultural industry there is a self-evident premium on specialist tax planning advice.

We can advise individual farmers, members of farming partnerships, corporate and trustee landowners about the most inheritance and capital gains tax efficient structures for owning and running their farms businesses and estates.

We have lawyers who combine a practical understanding of how farming works together with a through understanding of how the capital taxes and reliefs apply to agricultural businesses.

Contact: Stuart Thorne, Rod Lloyd Jones