1000 acre farm. Should we sell it now?

[einstein]

Beware the 10 yearly "whatever it is called Tax" that assets held in trust attract.

its inheritance tax.

 

[David.]

Does anyone have an idea how that actually works then with land and shares etc held in trusts. Does agricultural land held in a trust have exemption from the 10 year tax bite?

 

[Goweresque]

Does anyone have an idea how that actually works then with land and shares etc held in trusts. Does agricultural land held in a trust have exemption from the 10 year tax bite?

As far as I understand it, its not a tax on the value of the trust, its a tax on the increase in value of the trust, and I think agricultural relief is still available for any increase in agricultural values. But any increase in non-agricultural assets would be taxed. Its very complicated, my accountant has tried to explain it to me several times, and I still haven't got it 100%. Of course the rules could change to disallow agricultural relief though, which would make the impact far greater. The nominal rate is 6% but various factors usually mean the effective rate is far lower, 2-3% perhaps. As I said, its complicated!

https://www.charles-stanley.co.uk/birmingham/cs-live/discretionary-trusts-–-10-year-periodic-charges

 

[David.]

Thank-you.

 

[puppet]

Approx. 40% depending on value of farm.

How do you know you wil inherit it in 10 years? Insurance companies would love your ability to predict life expectancy. Why should you be given it now?
The farm must be worth £4m + with a tenant so you have other assets of £6m? If you have made all that already then you either should rest on your substantial laurels or buy some land as Dyson did. The rental income will make you financially comfortable for ever if or when you inherit it.
Never rely on legacies- relationships and fortunes change

 

[Still Farming]

Chinese Billionaire buying land in France so he may come over here if Macron don't like it ????