Leaders Romans Group的动态

Important Notice for Farming and Landowner Clients: Changes to Inheritance Tax (IHT) Relief The recent budget introduces a cap on business property relief (BPR) and agricultural property relief (APR) at a combined ￡1m for 100% relief, with values above this qualifying for only 50% relief from April 2026. Given the standard IHT rate of 40%, this means farmers will face 20% IHT on everything above ￡1m. This may force many farms to sell off land to cover IHT liabilities upon the owner’s passing. Strategies such as settling assets into a trust or gifting to the next generation may seem attractive under current relief levels, but the rules on lifetime gifts have also been affected. Additionally, capital gains tax and holdover relief need to be considered. This is a complex area with many details still to be confirmed and analysed, so we strongly recommend consulting a specialist tax advisor to help secure the long-term viability of your farm. #budget #government #farming #IHT #tax

Autumn Budget: How Proposed Tax Changes Impact Farmers Estate Planning Big changes ahead for farmers: From April 2026, Agricultural Property Relief (APR) on Inheritance Tax will be capped at ￡1M, with 50% relief beyond that... https://lnkd.in/e5abUWU3 #Farming #InheritanceTax

?? ?? Calling all Farmers ?? ?? The announced changes to inheritance tax has caused concern among many in the agricultural community. Without the benefit of agricultural property relief, inheritance tax can have significant implications for farm owners, potentially placing a financial burden on families looking to pass down rural properties and agricultural assets. Read more here… (and share with other farmers!) #IHT #InheritanceTax #Farmers #Farming #Rural #Budget #LandOwner https://lnkd.in/exidCM6M

?? Worried about inheritance tax? ?? We hear from finance expert Sam Cawley from law firm Nelsons on his top tips for UK farmers. Read the exclusive article here >> https://bit.ly/3D41a9W #inheritancetax #farming #uktax #food Sam Cawley Nelsons

?????? Know anyone with agricultural land? Are they aware of the announcement in the Spring Budget of an extension to Agricultural Property Relief? Farmers and landowners taking part in certain environmental schemes, such as Countryside Stewardship, will be eligible for the relief and exempt from relevant inheritance tax from 6 April 2025. You can read the full details on HMRC’s website here: https://loom.ly/it2Szmo ?? Inheritance Tax can be very complex, so if you think you might be affected, it may be time to speak to a financial adviser. You can reach out to [email protected] or [email protected] to book a call. #Farming #CountrysideStewardship #InheritanceTax #FinancialAdvice #EstatePlanning

Following the?announcements from the Chancellor's Autumn Budget, The CLA's experts provide an initial assessment of how updates will impact members and the wider rural economy. If you need advice or support please do not hesitate to call to speak to our regional advisory team. https://lnkd.in/eXUqUkjA #Budget2024 #IHT #BPR #APR #ruraleconomy #ruralbusiness #farming #landowners

Recently our teams have noticed that many clients, particularly those within rural family businesses, are concerned about the changes which may be announced on budget day, 30th October. In our latest blog, Private Client Solicitor and Partner, Philip Nelson, discusses the approach we recommend. #budget2024 #ruralbusiness #yorkshirebusiness #farming #agriculture #agriculturalbusiness #privateclient #lawblog #IHT #inheritancetax #CGT https://lnkd.in/eMp8Dgwc

The news in last week's budget about changes to Business Property Relief (BPR) and Agricultural Property Relief (APR) will have sent shockwaves through the farming and family business communities where, until the announcement of the changes last week, death had historically been an effective form of tax planning - but no longer so. In my latest Gorvins Solicitors blog I look at the changes to the rules around APR and BPR, digest what they mean, look at some trends we expect to see in light of the changes and (hopefully) provide some practical tips on what farmers and those involved with Family Businesses might want to consider as their next step. #FamilyBusiness #Farming #Budget2024 #InheritanceTax #BusinessPropertyRelief https://lnkd.in/e9tJNPcb

The farming industry - coming together to challenge government changes. ?? The CLA has joined members of the farming industry in signing a joint letter to the Prime Minister, urging the government to rethink its inheritance tax proposals. CLA President Victoria Vyvyan also appeared at today's EFRA Committee to present evidence against capping vital inheritance tax reliefs. Read more here: https://lnkd.in/eZ5GVqTS #farming #FamilyFarmTax #inheritancetax

?? ?? The Future of Farming: How changes to inheritance tax could impact farmers. The agricultural sector may be facing significant shifts because of the changes to inheritance tax in Labour's Budget. With some farmers being forced to sell up, experts are warning that land values could fall. Edward Whittington said “Lower land values may see some farmers have to sell their land to pay back debt, as their borrowing is secured at today’s values, which could lead to foreclosures for highly leveraged farming businesses. Forced sales of this nature and / or to pay IHT will give opportunities to non-farming wealth to buy farm land to benefit from the ongoing reduced IHT rate of 20%.” “This doesn’t benefit the farming community as we could see generations of people with farming knowledge being forced away from their land and selling it to wealthy non-farming people. “The knock-on effect for British farming could potentially be huge.” ?? What does this all mean? ? Landowners and farmers may need to reassess succession plans. ? Tax efficiency strategies could be critical to mitigate risks. ? The broader impact on the rural economy could be profound. At Moore Barlow, our Landed estates and farming experts are here to help you navigate these complexities, ensuring you’re prepared for the potential changes ahead. Reach out to our team - Edward Whittington and Sarah Jordan for advice on inheritance tax planning and rural property matters. Original articles: ?????https://lnkd.in/dWbh8R9z ?????https://lnkd.in/d7RTs_Pg #LawoftheLand #AgriculturalLaw #InheritanceTax #TaxPlanning #FarmingFuture