Navigating Inheritance Tax changes for farmers

Laura is joined in this episode by Bruce Masson to discuss the significant changes to inheritance tax regulations affecting farmers and rural businesses following the 2024 Budget announcement. They delve into the implications of agricultural and business property relief, the challenges farmers face in meeting new tax liabilities, and the importance of family discussions in succession planning. Bruce emphasises the need for proactive financial planning and focuses on the complexities introduced by the new tax landscape, urging farmers to start conversations about their future and the management of their assets.

This special farming mini-series is hosted by Laura Clayton, an assistant manager in the farms and rural business team, and in each episode Laura invites a different guest to share their expertise on various business topics affecting the farming and rural community. The series covers a range of subjects including tax, legal matters, succession, and inheritance, aiming to provide insights and tips to those living and working in agriculture.

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You can find more episodes from this series on our website here.

This presentation is designed for the information of viewers. Whilst every effort is made to ensure accuracy, information contained in this recording may not be comprehensive and should not be acted upon without seeking professional advice. © Larking Gowen LLP