top of page
Image by Federico Respini

Inheritance Tax Planning

Navigating Inheritance Tax

In the UK, inheritance tax is a reality that many farming families and owners of landed estates must face. It's a complex area, filled with both challenges and opportunities.

​

At Manor Croft, we understand that discussing inheritance tax and estate planning can be a sensitive topic. It's not just about numbers and laws; it's about your life's work and your family's future. Our approach is to work alongside you, understanding the unique aspects of your estate and offering bespoke advice.

​

Agricultural assets often hold more than just monetary value; they are intertwined with family history and a deep connection to the land. Fortunately, the UK's tax system recognises this unique position. Reliefs such as Agricultural Property Relief (APR) and Business Property Relief (BPR) can significantly reduce the inheritance tax burden on farming estates. However, navigating these reliefs requires a nuanced understanding of the criteria and how they apply to your specific circumstances. For instance, APR may cover land and buildings used for farming, but its applicability can vary depending on factors such as the period of ownership and the nature of farming activities.

​

Effective planning is the cornerstone of minimising inheritance tax liabilities. This is not a process to be left until the eleventh hour. Proactive steps, taken well in advance, can ensure that your estate is structured in a way that maximises available reliefs and exemptions. This might involve restructuring business arrangements, considering lifetime transfers, or setting up trusts. Each strategy should be tailored to individual family and business circumstances. It's a delicate balance between maintaining operational control over your assets and planning for their future transition.

​

Whether it's navigating the complexities of APR and BPR, exploring estate planning strategies, or simply providing a clear explanation of your options, we're here to ensure that your legacy is protected and passed on in the most efficient way possible.

bottom of page