Significant, multigenerational estate planning successful thanks to Private Client team’s expertise

When two branches of the same family were looking to sell a significant part of their landed estate and extend a solar lease on a second estate, they required extensive estate planning advice to maximise their assets and the tax reliefs available to them. They contacted HCR’s Private Client team for expertise.

The team carried out a review of the estate, implementing multiple solutions to support their objectives including creating a new post-1995 Agricultural Holding Act tenancy, increasing the rate of agricultural property relief (APR) to 100% and ensuring business asset disposal relief on the land transfer was not wasted.

Alongside this, the team reviewed IHT relief, minimised CGT and SDLT, and assisted with gifts of shares in the solar company. By preparing a family constitution, the family were able to clearly set out how their remaining business and landed interests should be managed in years to come.

The final piece of the jigsaw saw the team fully review and update the family’s wills to maximise all relevant reliefs and allow appropriate provisions for the next generation.