Rickard Luckin, Birkett Long and Whirledge & Nott joined forces for the eighth consecutive year to deliver the Annual Farming Families Update 2020.
The date of the annual event is well-established in the agricultural community’s calendar and is designed to help farming families overcome the challenges associated with succession planning and diversification. Attendees at the event have an opportunity to get updated insights from the expert speakers on topical matters as well as practical, legal and taxation issues to consider.
The 2020 event took place at The Lion Inn Boreham on Tuesday 25 February and was chaired by James Marriage, Chairman of the Essex Agricultural Society and Director of W&H Marriage & Sons, manufacturers of flour and animal feed. Coming from a farming and milling family that traces its roots back some 250 years, James’s experience on the day was very valuable.
The event organisers, Rickard Luckin Chartered Accountants and Tax Advisers, Birkett Long Solicitors and Whirledge & Nott Chartered Surveyors, delivered six presentations covering challenges and opportunities associated with diversification in these changing times, succession and retirement.
The ever changing nature of our UK legal and taxation systems requires each firms’ specialists to be on form with the latest updates which affect in particular the agricultural community, enabling them to manage their farms effectively.
Caroline Peters, Director and Head of Agriculture at Rickard Luckin, kicked off the presentations by underlining some practical planning points to consider alongside any tax planning, before passing over to Freddie Botfield, Associate at Whirledge & Nott. Freddie has established himself as a rural specialist and presented on the diversification opportunities available in the sale and management of agricultural and commercial property. These were followed by a third equally informative presentation on the importance of preparing for the phasing out of Basic Payment Scheme (BPS) by Kate Jennings, Director at Whirledge & Nott.
James Boustead, Associate at Rickard Luckin joined forces with Amanda Smallcombe and Caroline Dowding Partners at Birkett Long, with all three experts presenting on the case of Thompson v Thompson 2018. The case was used as an example to show where it went wrong with commentary provided on the background, tax and legal perspectives and their implications.
The evening culminated with guests enjoying wine and canapés, as well as an opportunity to chat with peers and specialists who were on hand to answer any topical questions.
Would you like to be notified about the next Annual Farming Families Update or our specialist agriculture services? If so, please register your interest on www.rickardluckin.co.uk/sectors/agriculture
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