Accountancy | Tax Planning | Business Support

One of the most emotive and difficult things to do properly.  Normally full of compromise and making the best out of a complicated situation but there are always avenues to explore.  All the while you need to ensure that you are jumping through the right hoops to achieve Agricultural Property Relief.

Farmers are forced now to consider new avenues of income in order to keep the lights on in the face of reduced government subsidies.  There have always been diversifiers but now more than ever it is a real consideration that is almost a necessity on most farms.  Things get interesting when your diversification takes the farm over, great for you but maybe not for tax?

We can help you assess the balance of your farm to see if you are at risk of not achieving Business Property Relief.

We have regular conversations about the future of farming and help our farmers to assess the viability of that future.  We are also actively monitoring tax law to see how these schemes are going to affect farming reliefs.

As a farmer you are often involved in high value capital transactions.  In particular land and property sales can be a highly complex area with rich ownership history to be taken in to account.  There may be things you can do to mitigate any Capital Gains Tax if you consider it well in advance.

There are often times when detailed understanding of the different types of farm tenancy are essential.  We have years of experience dealing with both landlords and tenants on the wide variety of issues that arise.

This is often an opportunity for farmers, whether it be a straight sale of land at a premium or a project you can take on yourself, the key is planning early before your ideas turn in to an actual planning application.

A lot of farms are held in partnership, and this is just fine for a lot of people, not to mention simpler in a lot of cases.  Some, however, might benefit in a number of ways by trading through a company.  Especially when you have partners each earning more than £100k each per year.

There are many scenarios that lead to a split farm, it happens.  We have dealt with partnership splits, corporate splits and splits that have been planned for years.  These are difficult times that test any family relationship but we can help navigate you all through it.

Trust planning is a staple for the farming family.  It allows for the passing of difficult and sometimes unresolvable 'in life' issues to some trustees.  It is a powerful tool when thinking about succession, especially where there are concerns over a farm break up after death, questions of fairness or simply just that you want to ensure some passing of time before the assets are passed on.