It is also one of the most dynamic sectors of the economy and is experiencing increased pressure on its income.
In response, many farmers have sought to move away from traditional sources of income and maximise opportunities by diversifying their business.
Agricultural Land We have experience in buying and selling everything from a smallholding through to large estates.
We also advise on appropriate grant of rights for cables, pipelines and telecommunication masts, sales for development and overage agreements.
Partnerships and Other Ownership Structures Traditionally most agricultural clients either farmed alone or in partnership. In an era of diversification farmers may use a variety of different structures for the separate elements of their business, from traditional partnerships to company structures or limited liability partnerships.
We work with your other advisers to ensure that your interests are protected from the potential problems that could threaten your business.
Succession Planning One of the most difficult decisions for any farmer is deciding how and when to hand over the reins of the business.
The management and related taxation consequences need to be considered at every stage to ensure that correct decisions are made.
Taxation As a farmer you are likely to keep an eye on the taxation consequences of your activities. This means not only capital taxation issues such as inheritance tax or capital gains tax but also more immediate income tax and VAT issues.
We are not tax advisers but are happy to work closely with your tax advisers to obtain the best outcomes for you and your business.
John Hay
