Castleisland is surrounded by family farms. We help farming families plan transfers, use the available tax reliefs and deal with land sales and purchases.
Passing on the family farm is about more than paperwork. It involves the future of the farm, the security of the parents and fairness to other family members. We help you plan it properly.
With good planning, farms can often transfer with little or no tax. Agricultural relief, retirement relief and stamp duty reliefs for transfers to relatives and young trained farmers can all help, but each has conditions that need to be met. We work with your accountant so the transfer is structured correctly.
A transfer can include a right of residence, maintenance or other protections for the transferring parents.
We also act on buying and selling farmland, long-term farm leases, rights of way and correcting folio maps that do not reflect the boundaries on the ground.
Ideally a few years before, as some reliefs depend on how long land has been owned and farmed.
We can help structure the transfer and wills to balance fairness across the family.
Yes. Farm transfers work best when the solicitor and accountant work together.