If the land is let on an FBT you are fine for inheritance tax under the rules as they currently stand. The issue comes if the rules change down the line. Our farming partnership rents land from me personally, our limited company and my SIPP so it's something I am very aware of!
The issue is when you want to get money out, dividends save some NI but every budget seems to erode any advantage from a tax point of view in terms of actually getting to use the money for anything non business
Talking to a well respected ag accountant the other week…reckons these are a time bomb and there have been some big claims paid out which will not stand scrutiny - R&D is clearly defined. The firms who have creamed off 20-30% will be long gone and he reckons that some £100k claims could have to be repaid despite the farmer only getting a net 75k after fees!
LLP you still only get taxed as partners so 50k until your 40%.