We understand the importance of planning the future of your farm. We know how complex and challenging this process can be, and how vital.
Our solicitors and tax advisers have extensive experience and knowledge in helping farmers and landowners tackle unique challenges that come with wills and taxation of farming assets. We invest time in getting to know you, your family and your farm, developing an understanding of your needs and priorities. We provide the advice you need quickly and clearly, with the best client service to ensure we continue to work together long into the future.
One concern for farmers is the reduction of inheritance tax (IHT) on their estates. The changes in the 2024 Budget to Agricultural Property Relief (APR) and Business Property Relief (BPR) were punitive for many farmers and the impact could be felt for generations. Early planning can help ease the IHT burden on families and maximise APR and BPR. Our solicitors can help understand your situation and eligibility for these reliefs.
With proper planning, farmers can benefit from Rollover Relief or Business Asset Disposal Relief, potentially reducing their Capital Gains Tax liability. We can guide you on how to minimise tax exposure.
In addition to advising on tax reliefs, we also provide guidance on succession planning to help ensure that your farming business is passed down smoothly to the next generation. Trusts and estate planning can be essential in protecting agricultural assets and ensuring that your farm remains in the family. Our team works closely with you to help you navigate the complexities of wills and taxation while securing the future of your farming legacy.
This comprehensive approach helps farmers secure the best possible outcome, ensuring their estates are efficiently structured for tax purposes and protected for future generations
Contact Helen Firth on:
Call: 01245 228125 or
email: firthh@gepp.co.uk
Call: 01245 228146 or email: PrivateClientEnq@gepp.co.uk or request a call back.
If you want to find out more about the services we can offer you, please feel free to get in touch.