If you own any business or agricultural property, you need to give very careful thought both to the succession and taxation implications of passing it on to the next generation. We act for many business and land owners and are well placed to advise you how to structure your holdings to take full advantage of the various inheritance tax reliefs that can apply.
We can also look at how to ensure the continued smooth running of your business should you lose capacity in the future, making sure that the underlying partnership agreements, or corporate articles of association, are fit for purpose.
Inheritance tax planning for business and farmland is technical and the rules can be both mystifying and opaque. We have a long history of explaining the issues in plain English, and helping you to achieve the best solution for your own estate plan.
Please do not hesitate to contact our Private Client department for further information.