Our Service

We can advise on the requirements for qualifying for Agricultural Property Relief (APR) and the best arrangement for including the farmhouse in that relief. However, diversification (such as renting out farm buildings or land for non-agricultural purposes) may mean APR is lost. In this case we need to look at whether Business Property Relief is available instead.

Farmers also tend to have family issues, such as wanting one child to have a viable farm but wanting to be fair to the other children. They may also have made transfers of land to a child who is involved with the farm and are wondering how to even this up with the other children. Tax issues also come into play here.

 

Our Approach & Our Experience

A common problem in faming families is that the parents want to leave the farm as a viable unit to the child who has worked in it.  At the same time they want to be fair to the other children.  If there is the potential for development of some of the land they worry about a windfall bonanza for the child who has inherited the farm.

Our experience is that if it is clear from the Will that the parents have tried to treat their children equally, then even if the assets have unequal value at the time of death, this will not cause any problems.  In addition the Will can include option of clawback provisions to ensure that all the children share in any windfall development value.

When dealing with estates which include agricultural assets we are clear at the outset about the detail HMRC will require to support a claim for Agricultural Property Relief, so that this issue does not cause delays and problems later on.

 

 

Contact Us

Our Promise & Core Values

Our Promise

The Myerson Promise - Our Partners, team of lawyers and support staff commit to giving our clients more.

.
To always give you clear, jargon-free advice.
.
To be completely transparent about our fees from the outset.
.
Progress every matter in an efficient and timely matter.

Our Core Values

Our core values are at the centre of everything we do.

.
We are always professional but ensure that we are friendly and approachable.
.
We are determined and enthusiastic about supporting our clients and our people.
.
We willingly take responsibility and can be relied on to be commercial, effective and efficient.

Meet Our Specialists

Home-grown or recruited from national, regional or City firms. Our specialists are experts in their fields and respected by their peers.

Andrew Brown

Andrew Brown

Andrew is a Partner in our Corporate Commercial department

Andrew Chapman

Andrew Chapman

Andrew is a Partner in our Commercial Property department

Amanda Freeman

Amanda Freeman

Amanda is a Partner and is Head of our Private Client department

Jeremy Lee

Jeremy Lee

Jeremy is a Partner in our Commercial Property department

Contact Us

Book your consultation using the below enquiry form, alternatively, you can call us on

0161-941-4000