Agricultural Law
We can provide the support necessary to ensure smooth day to day running of the estate. This may cover a wide range of legal requirements, including employment and tenancy matters and, on a larger scale, the reorganisation and diversification required to preserve the estate for future generations.
We consider it important that we are able to work with the estate’s other advisers to ensure that the necessary support is available. We appreciate the need for proper arrangements to transfer the property from one generation to the next in the most tax efficient way and to maximise present and future tax advantages.
We have particular expertise in the areas of heritage property and trusts including those with a foreign element. In addition to setting up such trusts, we can assist in the on-going management of trusts. It is essential that a periodic review of all aspects of these arrangements is undertaken.
On viewing the potential for diversification in the estate, we would expect to consider the sale or letting of unoccupied houses and other buildings. This would involve advising on occupancy arrangements, including those for employees, and the creation of letting arrangements that would ensure vacant possession of the property when required.
We are experienced in dealing with the imposition and subsequent variation and release of restrictive covenants. These can be imposed when property is sold from the estate. We ensure that the wording of such restrictive covenants is such that maximum benefit can be achieved if a release is sought in the future. For some estates release fees provide a valuable source of income.
We can also advise and deal with the election to charge Value Added Tax in relation to estate property.