Taxation Advice Required - North East England

[Scraggydog64]

I have lived and worked on our 100 acre farm all of my life. When I was sixteen I went and got a full time job as well as working on the farm. Some time in the future I will be inheriting the farm. Also in the next few years I will be retiring from my full time job and looking to draw a lump sum from my work based pension. The farm breaks even at best. I might consider selling some land and / or converting some of the buildings into houses.

Dad has made no provision to hand over the farm. I need to speak to an advisor to determine what my future tax liabilities will be. The accountants we use are a large company that do general business accounts. I could speak to them in the first instance but I think I need to be speaking to someone who specialises in agriculture.

Could anyone make any recommendations. I am based in the north east. I would prefer someone in the area as I feel a face to face discussion would be best.

Thanks

 

[curlietailz]

I’d recommend Baines Jewitt accountants in Stockton
Mrs Cowley has always given us good advice on complicated farm/finance stuff

or Jackson’s Law Firm also in Stockton as a good agricultural/inheritance/stuff
I believe they are an NFU lawyer too if you are an NFU member you can get some free! Advice ( I think)

 

[2wheels]

I have lived and worked on our 100 acre farm all of my life. When I was sixteen I went and got a full time job as well as working on the farm. Some time in the future I will be inheriting the farm. Also in the next few years I will be retiring from my full time job and looking to draw a lump sum from my work based pension. The farm breaks even at best. I might consider selling some land and / or converting some of the buildings into houses.

Dad has made no provision to hand over the farm. I need to speak to an advisor to determine what my future tax liabilities will be. The accountants we use are a large company that do general business accounts. I could speak to them in the first instance but I think I need to be speaking to someone who specialises in agriculture.

Could anyone make any recommendations. I am based in the north east. I would prefer someone in the area as I feel a face to face discussion would be best.

Thanks

best make sure you are getting the farm first.

 

[upnortheast]

Andrew Robinson at Armstrong Watson Accountants Hexham office

Andrew Robinson

Andrew is a farmer’s son born and bred on a large Hill farm in North Cumbria and still regularly works on a friend’s farm to keep his hand in. This gives him a great insight into the actual issues affecting farmers in their businesses and helps him back in the workplace. Andrew studied at...

www.armstrongwatson.co.uk

 

[Clive]

I have lived and worked on our 100 acre farm all of my life. When I was sixteen I went and got a full time job as well as working on the farm. Some time in the future I will be inheriting the farm. Also in the next few years I will be retiring from my full time job and looking to draw a lump sum from my work based pension. The farm breaks even at best. I might consider selling some land and / or converting some of the buildings into houses.

Dad has made no provision to hand over the farm. I need to speak to an advisor to determine what my future tax liabilities will be. The accountants we use are a large company that do general business accounts. I could speak to them in the first instance but I think I need to be speaking to someone who specialises in agriculture.

Could anyone make any recommendations. I am based in the north east. I would prefer someone in the area as I feel a face to face discussion would be best.

Thanks

Catherine Desmond at Smith Cooper, highly recommended for this kind of planning advice