I12.601 Generally

Division I12.6     Family farming businesses

For updates affecting this Division please see Part I0 Updates

Family farming businesses

I12.601 Generally

The generous rates of agricultural property relief mean that there is every incentive to retain farming assets; added to the attraction of obtaining a CGT free uplift in value on death, the best basis for IHT planning in connection with agricultural property will often be to retain the property personally and take steps to safeguard or maximise the availability of the relief wherever possible1.

The options for structuring a farming business will include operating as a sole trader, as a partnership, as

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