Acting for a wide range of agricultural and diversified rural businesses covering the length and breadth of Scotland, from Wick to Castle Douglas, our farms and landed estates team specialises in advising on all commercial, financial and tax issues; including capital taxes, VAT and succession planning.
Our team has specialist expertise in advising on appropriate trading structures to ensure that valuable reliefs are enhanced and liabilities mitigated using planning. We have detailed knowledge and understanding of the issues and challenges faced by our clients, whether managing cash flow or passing on the business to the next generation.
Our approach ensures that advantage is taken of reliefs and elections, such as farmer’s averaging, herd basis and capital allowances. With the costs of inputs rising, uncertainty due to the impact of Brexit, squeezed margins and ongoing climate change, this insight ensures opportunities are maximised.
Another area we increasingly work in is around renewables projects, which are becoming more commonplace. In this area it is increasingly important that specialist advice is taken at an early stage; tailored to specific circumstances – whether you are operating the project yourself or leasing the ground to a third party and receiving an income.
The most successful businesses are those that plan ahead. We work with our clients in advance of any land transactions to ensure they receive the best possible advice on protecting Inheritance Tax reliefs and minimising Capital Gains Tax.
This applies whether you are a landowner or a tenant.