Gifting can play an important part in farm succession planning, but it is rarely straightforward. In this bonus episode, solicitor Tom Mottram and Jilly Greed, a farmer from Devon, discuss tax, affordability and the realities of handing on assets. With plenty to consider, they recommend taking advice early and plan carefully, because decisions made today will shape both your future and that of the next generation.
Peter Green is re-joined by solicitor Tom Mottram from Porter Dodson and Devon farmer Jilly Greed in this bonus episode of Farming Focus™ to explore the role of gifting within farm succession planning. They discuss tax implications, affordability and the importance of professional advice, alongside Jilly’s first-hand experience of transferring assets. They advise being informed is a strength, highlighting how careful planning is essential to protect both your family and your farm business.
Make sure you listen to episode 8 to get the most from this bonus episode.
Farming Focus is the podcast for farmers in the South West of England, but is relevant for farmers outside of the region or indeed anyone in the wider industry or who has an interest in food and farming.
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