Ad Valorem Group’s Post

New Inheritance tax rules could be the end of the road for some farm owners! With the recent announcement, inheritance tax relief for farm owners has changed and will prove disastrous for many within the farming community. Farm owners will now be charged 20% tax on all business and agricultural assets above 1 million which could prevent farms being handed down to the next generation. Despite these changes, there is still something that can be done when it comes to securing your livelihood. There are trust structures that have been around for many years, which not only ensure your farm is protected from the usual threats, but also guarantee that your wishes are adhered to when it comes to the running of the farm even long after you're gone. Don't leave it too late though. Life, divorce and health can change in the blink of an eye and may inhibit your ability to make any plans. Get in touch today and put yourself back in the driver's seat. It could be the difference between holding onto your farm or having to let it go. 👉𝗘𝗺𝗮𝗶𝗹:𝘀𝗵𝗮𝗿𝗼𝗻@𝗽𝗿𝗼𝘁𝗲𝗰𝘁𝗻𝗶.𝗰𝗼𝗺 . . #inheritance #tax #inheritancetax #news #Budget2024 #farm #protection #takeaction

Following the Government’s Announced Changes to Inheritance Tax, Protecting the Future of your Farm is Vital. Yet many farmers face challenges when it comes to securing their legacy and ensuring smooth succession. Without proactive planning, families risk disputes, financial strain, and even losing the very assets they’ve worked so hard to build. Issues such as inadequate Wills, failure to consider trusts, and overlooked tax implications can jeopardise a farm’s stability for future generations. These risks highlight the importance of robust planning to protect your farm against unforeseen circumstances. If you’re looking to safeguard your farm’s future, our expert team is here to help. Contact us on 01752 292201. Read Nick Latimir TEP's article here: https://ow.ly/OCVV50UhR8t

The new £1M cap on 100% relief for qualifying business and agricultural property, announced 30th October 2024, could significantly impact succession planning Assets above £1M may only get 50% relief, increasing Inheritance Tax exposure. This means your lifetime planning and gifting strategies may need revisiting, and non-tax factors like asset protection and Will updates are crucial ✍ 📅 Register for our Estate Planning Webinar to gain valuable insights on how to navigate these changes 👇 #AutumnBudget #Agriculture #InheritanceTax

Our analysis of this weeks ‘farmer drama’ and how trusts and estate planning should be considered carefully alongside the tax consequences… please have a read! 🚜

Agricultural Property Relief and Business Property Relief are "lifelines for hard-working family farms and entrepreneurs" said Harriet Cross MP reports Alex Black. More about how changes to Inheritance Tax will affect family farms. #WeNeedFamilyFarms #farmbusiness #farmingpolicies #budget #AgriculturalPropertyRelief #inheritancetax

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. Thoughtful, informed estate planning with the benefit of advice from a financial adviser can help mitigate the effects of IHT, ensuring a smoother transition of agricultural property to the next generation. Understanding, addressing and planning for potential inheritance tax liabilities is now especially important for farm owners. #businessroom #connectionsclub #inheritancetax #financialadvise #estateplanning

There has been a lot in the press about the impact of the proposed changes to Agricultural Property Relief and Business Property Relief on farmers and landed estates. Businesses stand to be just as hard hit by the changes, as explained in my article: https://lnkd.in/edvf896F Careful planning and tax advice is going to be crucial for the long-term survival of many family businesses.

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. Understanding, addressing and planning for potential inheritance tax liabilities is now especially important for farm owners. Read more to help you navigate the impact: https://lnkd.in/e6Gymq6v #ProtectionPlanning #IHT #BritishFarmers

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. Understanding, addressing and planning for potential inheritance tax liabilities is now especially important for farm owners. #IHT #AgriculturalPropertyRelief #FinancialPlanning

🚜⚠️ New measures in the Autumn Budget impacting farms in Wales and England, especially changes to Agricultural Property Relief (APR), have sparked concern within the farming community. The NFU (National Farmers' Union) is holding a mass lobby of MPs on 19th November to highlight how these changes could have a devastating impact on British farms. ❓What's changed? Starting April 2026, APR will only exempt the first £1million of farm assets from inheritance tax, with additional tax relief on 50% of the value beyond this threshold. For example, if a family farm worth £3million is inherited, the heir could face a £270,000 tax bill, potentially forcing a land sale. ❓What is the impact on family farms? Many farmers may need to consider succession plans, trusts, or revised Wills to protect their farm from being sold off to pay Inheritance Tax. Consulting professional advisors now can help secure family-owned farms before the changes take effect. Read more here 👇 https://lnkd.in/etkCemim #JCPNews #InheritanceTax #TheBudget #LegalUpdate #BritishFarming #APR Sean Boucher (TEP)