At Goughs we encourage all farming families to carefully consider how their estates and farms will devolve on their death. It is imperative that farming families take specialist legal and tax advice in relation to their farms and land. Goughs are delighted to offer such a service as farms and land are very valuable.
Inheritance tax reliefs are available in respect of farming and agricultural assets. To obtain such reliefs it is very important that farms and estates are structured in particular ways. Advice must, therefore, be sought on how farming estates should be structured to maximise the inheritance tax relief available to protect your farm for future generations.