We have contributed to a report on The Real Impact of the 2024 Autumn Budget IHT Announcements.
This report was put together by the Rural Accountancy Group (RAG) in which includes 10 accountancy firms across England and Scotland who specialise in farming, estates and rural business (including Hawsons). The core technical committee includes 25 individuals from the 10 member firms which includes Dan Wood and Sean Boyall from Hawsons.
The purpose of this report is to highlight some real-life examples of how the proposed measures for inheritance tax (IHT) in the Autumn Budget will affect farms.
This report also highlights alternative solutions which RAG consider will have less negative impact on genuine commercial farming and other businesses, while still raising tax and preventing tax avoidance.
This report is now available to read below:
How can we help?
At Hawsons our dedicated team of specialist agriculture accountants understands that farming isn’t just a business; it’s a way of life.
The rural and agriculture sector is a specialist sector, with unique practices and conventions. We act for a significant number of arable farms and assist farming families in many matters specific to agriculture and farming. This includes tax, will planning and succession planning.
We have been able to assist our farming clients to add value to their businesses. We have advised on the financial and tax consequences of property development, green technologies and capital allowance planning. In particular, we can assist in the area of capital taxes planning. This is a significant issue for farmers following the increase in land values and the availability of development opportunities.
Dan Wood
Partner
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