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Know How / Succession planning

The smooth transition of a farm business from one generation to the next is a challenging – but incredibly important – process. See how the experts think you should start the succession planning conversation and read about the property, legal and tax implications you will need to consider.

Case studies

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SUCCESSION PLANNING

Young farmer shares succession planning story and top tips

A fourth-generation young farmer has spoken out about how his family worked through their succession planning difficulties to encourage others to get prepared. Devon Young Farmers' Club county chairman Matt…

PARTNERSHIPS

Video: Share farming partnership gives young farmer a break

Young farmer Aled Morgan faced a tough future in farming - with a family farm not big enough for both him and his brother to work on, there were few…

SUCCESSION PLANNING

Will Sargent: Disaster shouldn't spark farm succession talk

Usually, when I write articles for Farmers Weekly I show them to my dad before sending them off. I always wanted to make sure the boss was happy with what…

SUCCESSION PLANNING

How a young farmworker helped solve a succession crisis

The owner of an upland sheep and cattle farm in South Wales has sorted out her succession plan by bringing her farmworker into the business as a junior partner and…

LAND MARKETS

Video: Farming family sells estate after 70 years

Succession planning is commonly defined as the process of passing a farm from one generation to the next. Done properly the outcome should provide clarity over the future of the…

Practical advice

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TENANCIES AND RENTS

6 of the most common challenges for tenant farmers

The shifting nature of farm policy and tenancy legislation means tenants often benefit from support when negotiating with landlords. Farmers Weekly asks George Dunn, chief executive of the Tenant Farmers…

BUSINESS CLINIC

Business Clinic: Will a limited company help save CGT?

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s experts can help. Andrew Robinson, partner and head of agriculture at Armstrong Watson, advises on whether it is…

TAX

Top tips for farmers on avoiding inheritance tax pitfalls

An inheritance tax investigation can be a long and stressful process, so proactive planning to minimise the risk of queries is time well spent. Forward planning can also reduce the…

SUCCESSION PLANNING

Business Clinic webinar: Succession Question Time

The changes already under way and anticipated in farming and land use are prompting many succession discussions and, in some cases, changing their direction. FW's latest Business Clinic webinar offers…

PARTNERSHIPS

Q&A: How the Scottish and Welsh land matching services work

For those who want to farm, increasing prices often present insurmountable barriers to accessing land. On the other hand, older farmers with no succession plan but who want to take…

PARTNERSHIPS

Splitting a farm business: Tax, legal and practical matters

It is usually a difficult decision to divide a business built up over generations, but for farmers who do so, the result can be strong, separate operations that allow those…

Insights

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SUCCESSION PLANNING

Analysis: Supreme Court rules on disinherited son’s claim

A Supreme Court appeal over a promised farm inheritance has settled how a farmer’s son is to be compensated after he was cut out of his parents’ wills. We look…

SUCCESSION PLANNING

Why poor succession planning can impact mental health

Numerous aspects of farming can negatively impact upon mental health, but the one many might not have drawn a line to is the eternal pressures surrounding succession. Though succession is…

SUCCESSION PLANNING

How a second house can be added to farm in a succession plan

Adding a second house to a farm as part of succession procedures can be made easier in Wales by a little-known planning exemption. The Welsh government introduced Technical Advice Notice…

PARTNERSHIPS

The scheme helping new entrants start joint ventures

In late September this year, the Scottish Government launched an initiative to bring together existing landowners and new entrants who are struggling to find a way into farming. The Scottish…

SUCCESSION PLANNING

Why acting early is key for a smooth farm succession

Succession doesn't just happen, so don't put it off - this was clear advice for farming families at Farmers Weekly's recent farm succession planning conference. Ensuring the smooth transition of…

BUSINESS

Experts give their tips on farm succession

Despite the importance of succession planning, some 60% of family farms don’t have a written plan, according to Farmers Weekly research. Yet 58% of farm owners readily accept that the…

SUCCESSION PLANNING

How to arrest the decline in small family farms

The small family farm, built on the labour of one or two people and typically covering less than 100ha, has traditionally formed the backbone of UK agriculture. These farms still…

Succession planning: Not easy, but essential

My father and I have finally tackled the thorny matter of succession. I can’t see why most farmers make such a fuss about it – it barely took us a…