Inheritance Tax planning for farmers

Working farmers generally feel that they don’t need to worry about Inheritance Tax on their farms.  Our experience of negotiating with the Revenue has shown us that this is no longer a safe assumption.

The Revenue’s attitude towards relief for farmers is becoming increasingly bullish.  It is no longer safe to assume that if you are a working farmer your farm will escape Inheritance Tax on your death.  It may well be possible to arrange your affairs so that no tax is paid, but you must get good quality advice at an early stage.  Putting it off could burden those who inherit from you with an unexpected tax liability.

Tozers have a wealth of experience in agricultural and landed estates and have been advising landowners and farmers for well over 200 years.  We offer specialist advice on the practical steps that you should take to protect your assets for the next generation.  

We can also help with other issues you might face like employment legal problems, debt recovery, disputes, equestrian legal matters, environment, energy and planning.

You will also find useful information in our publications such as our fact sheet on Capital Gains Tax Entreperneur's Relief and our article on To cull or not to cull - that is the question.