Farming Connect is launching a roadshow of events across Wales to help businesses consider different options for protecting their assets including succession planning.
The Autumn Budget on 30 October included significant proposed changes to IHT rules and these will impact many farm businesses. Welsh farming families will need to consider the implications of the UK government’s plan to limit 100% agricultural and business relief for inheritance tax (IHT) to the first £1m of value,
Demand for the advice available through Farming Connect is anticipated to be high as a result therefore it is holding 10 events where experts in farm IHT issues and succession planning will provide important guidance on the planned measures and advise on how farmers can mitigate the effects of the change.
Solicitors, accountants and land agents will be on hand to answer questions.
A comprehensive package of support is available through Farming Connect including facilitated family succession meetings; a succession review to assess the tax position and subsidised business and legal advice. For more information contact your local Development Officer, or call the Service Centre.
The schedule of remaining events planned for February is as follows:
05/02/25 - The Elephant & Castle Hotel, Newtown, SY16 2BQ
10/02/25 - Hafod a Hendre, Royal Welsh Showground, Builth Wells, LD2 3SY
11/02/25 - Rhyd-y-main Hall, Dolgellau, Gwynedd, LL40 2AS
For further details visit https://businesswales.gov.wales/farmingconnect/whats-on