Know How / Succession planning

The smooth transition of a farm business from one generation to the next is a challenging – but incredibly important – process. See how the experts think you should start the succession planning conversation and read about the property, legal and tax implications you will need to consider.

Case studies

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PARTNERSHIPS

Video: Share farming partnership gives young farmer a break

Young farmer Aled Morgan faced a tough future in farming - with a family farm not big enough for both him and his brother to work on, there were few…

SUCCESSION PLANNING

Will Sargent: Disaster shouldn't spark farm succession talk

Usually, when I write articles for Farmers Weekly I show them to my dad before sending them off. I always wanted to make sure the boss was happy with what…

SUCCESSION PLANNING

How a young farmworker helped solve a succession crisis

The owner of an upland sheep and cattle farm in South Wales has sorted out her succession plan by bringing her farmworker into the business as a junior partner and…

LAND MARKETS

Video: Farming family sells estate after 70 years

Succession planning is commonly defined as the process of passing a farm from one generation to the next. Done properly the outcome should provide clarity over the future of the…

Practical advice

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PARTNERSHIPS

Joint ventures compared and how they can solve succession

Joint ventures are becoming increasingly popular solutions for landowners seeking a successor and young farmers searching for access to land. For farmers without anyone to take on the holding, there…

TENANCIES AND RENTS

How to transfer tenancies for succession in Scotland

Key guidance has been released in Scotland for transferring agricultural tenancies from one person to another before or after the tenant’s death. Bob McIntosh, tenant farming commissioner – a role…

BUSINESS CLINIC

Business Clinic: How to hand the business over to my son

Whether it’s a legal, tax, insurance, management or land issue, Farmers Weekly’s experts can help. Here, Mark Chatterton of Duncan & Toplis advises on how best to structure a multigenerational…

TAX

How to protect property relief if using a grazing licence

Farmers who let land out under a grazing licence should keep records of their active role in managing the land if they want their estate to be eligible for agricultural…

BUSINESS MANAGEMENT

Guide to farming agreements and how to set them up

Few farmers fully retire, but more are now choosing to step back from the day-to-day business of running a farm by bringing another person into the enterprise.   Joint ventures…

Insights

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PARTNERSHIPS

The scheme helping new entrants start joint ventures

In late September this year, the Scottish Government launched an initiative to bring together existing landowners and new entrants who are struggling to find a way into farming. The Scottish…

SUCCESSION PLANNING

Why acting early is key for a smooth farm succession

Succession doesn't just happen, so don't put it off - this was clear advice for farming families at Farmers Weekly's recent farm succession planning conference. Ensuring the smooth transition of…

BUSINESS

Experts give their tips on farm succession

Despite the importance of succession planning, some 60% of family farms don’t have a written plan, according to Farmers Weekly research. Yet 58% of farm owners readily accept that the…

SUCCESSION PLANNING

How to arrest the decline in small family farms

The small family farm, built on the labour of one or two people and typically covering less than 100ha, has traditionally formed the backbone of UK agriculture. These farms still…

Succession planning: Not easy, but essential

My father and I have finally tackled the thorny matter of succession. I can’t see why most farmers make such a fuss about it – it barely took us a…