Work undertaken recently includes:
- Advising upon the structure of farming businesses and partnerships, the admittance of sons / daughters into partnership, the partnership deed and the tax implications of such changes.
- Advising upon the appropriate arrangements to hold family property to include the introduction of property into a farming business and of the use of trusts in order to maximise the agricultural and business property relief available to reduce future inheritance tax.
- Considering the use of trusts and gifts into trusts of property as part of an overall strategy to minimise inheritance and capital gains tax and to provide protection in the case of a divorce.
- Considering the succession rights and implications of Agricultural Holdings Act tenancies (AHA tenancies) and the inheritance tax issues involved to include those faced by family farming partnerships and farming companies in order to maximise the tax reliefs available.
- Advising upon post death will variations (possible within two years of the death of an individual) to reduce the tax payable upon death and in conjunction with a long term tax planning strategy.