Skip to content

Quality Advice Quality Service

Show / hide the search form Menu


Our client ‘Mr Hay’ is a partner in a multi-generational farming partnership with significant assets. With some of the family involved in the business and some not, Mr Hay was concerned about succession and fairness.

How GWA helped

Taxation around farming is complicated.  As the average age of farmers in the UK continues to rise and farm businesses diversify, it is important to consider if the right structures and strategies are in places to enable future generations to continue farming, if they wish to, without unexpected tax liabilities.

GWA carried out a series of assessments that considered the inheritance tax (IHT) exposure of the partnership. We recommended transferring the business assets to the partnership and in doing so reduced the business’s exposure to IHT.

We also recommended transferring assets to a discretionary trust to benefit current and future family members who are not involved in the farming business.

This feeling of fairness, whether the family members kept their involvement with farming or not, was particularly important to Mr Hay.

We respect the privacy of everyone who comes to GWA for advice. So while this case study is true, we have changed client names to maintain business and financial confidentiality.
This information should be taken as general guidance only. Before making any decision or taking any action, you should seek professional advice.

Back to case studies

Case Studies

Mother and son playing in a field

Case study

Advice to manage an unexpected inheritance

Case study

Inheritance Tax – don’t burden those left behind

Man on construction site

Case study

Consultancy – review your business structure to be tax efficient