This may involve us working closely with other professionals including property lawyers, accountants, land agents/surveyors, financial advisors, and barristers to achieve our clients’ objectives. We often take the lead in coordinating this work for our clients to ensure that all the key documentation accurately reflects the underlying ownership and business structures in place. In our experience this is key to preserving the availability of tax reliefs and to also ensuring that our clients’ farming estates ultimately pass to the next generation in the manner they intended.
The associated tax position also need to be carefully assessed to help ensure that the strategies adopted maximise the availability of valuable tax reliefs.
Obtaining advice from professionals with specific knowledge of this field at an early stage is, therefore, important to help ensure that the correct steps are taken and that you are your family understand the implications of the decisions that are made. It also reduces the risk of misunderstandings or disputes later.