James Shack – Financial influencers and the value of personal advice
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Agricultural wealth, succession and inheritance planning
Supporting farming families through inheritance tax changes, succession planning and rural business diversification across England and Wales.
9/10
would recommend Tees
94%
extremely satisfied with quality of service
Helping farming families protect their land, business and legacy
Your farm, your family, our expertise
The agricultural sector is facing one of the most significant periods of change in a generation.
Rising costs, reduced government support and changes to inheritance tax reliefs are forcing many farming families to rethink how they structure, protect and pass on their farms. For businesses that are often asset-rich but cash-poor, future tax liabilities could create difficult decisions for the next generation.
At Tees Law, we understand that a farm is more than a business. It represents generations of hard work, family history and future opportunity. Whether you’re considering succession planning, exploring diversification opportunities or reviewing your estate following inheritance tax changes, our specialists provide joined-up legal and financial advice tailored to the realities of agricultural life.
"Entrusting the accumulated wealth of a lifetime's endeavours is one of the most important decisions a person makes. Our experience with Tees allows us to feel confident that our money is safe in their hands"
Why choose Tees?
- Specialist rural expertise – Advice tailored to the unique challenges facing farming families and agricultural businesses.
- Joined-up legal and financial support – Access to solicitors, financial planners and tax specialists working together.
- Practical succession planning – Helping families navigate complex intergenerational transitions.
- Clear, straightforward advice – Commercial solutions delivered without unnecessary jargon.
- Long-term relationships – Supporting farming businesses through every stage of growth and transition.
The challenges facing farming families
Inheritance tax and succession planning
The reductions in Agricultural Property Relief has prompted a major shift in the way many farming families think about succession.
Traditionally, farms were passed down through generations with limited inheritance tax exposure. Today, many families are concerned about how future tax liabilities could affect their ability to retain ownership of agricultural land.
For some, this means considering whether assets should be transferred to the next generation earlier than originally planned. For others, it raises questions about how future tax bills can be funded without the forced sale of farmland.
Treating children fairly, not necessarily equally
One of the most difficult conversations for many farming families is how to balance the needs of farming and non-farming children.
Where one child will continue to run the farm and others will not, families often struggle with questions such as:
- How can I treat all my children fairly?
- Should farming assets remain within the business?
- How can non-farming children benefit from the family’s wealth?
- What role should investments, insurance or other assets play in succession planning?
Our team helps families navigate these sensitive discussions and put robust plans in place that protect both family relationships and the future of the business.
Cash flow pressures and financial resilience
Many farming businesses are operating in an increasingly challenging environment.
Reduced subsidies, volatile commodity prices, rising energy costs and changing regulations have placed significant pressure on profitability. At the same time, many farms remain asset-rich yet cash-poor, making it difficult to fund future investment or succession plans.
We help clients improve long-term financial resilience and identify opportunities to strengthen cash flow while preserving family wealth.
A changing approach to retirement
Historically, many farmers relied on the farm itself as their retirement plan.
However, changing inheritance tax rules and the need for earlier succession planning are encouraging a new generation of farming families to consider pensions and alternative retirement arrangements.
Creating wealth outside the farming business can provide greater flexibility, support earlier transfers of ownership and help ensure financial security in later life.
Our expertise
Effective succession planning is about much more than preparing a will.
We advise farming families on:
- Succession planning
- Estate structuring
- Agricultural and business property relief planning
- Lifetime gifting strategies
- Family trusts
- Wealth transfer strategies
- Lasting powers of attorney and wills
Managing future tax liabilities
For many farming families, protecting land ownership is a key priority.
We help clients explore legal and financial solutions that can help manage future inheritance tax liabilities and reduce the risk of farmland needing to be sold to fund a tax bill.
Diversification opportunities
As traditional farming margins come under increasing pressure, diversification is becoming an important part of long-term business planning.
We advise clients on opportunities including:
- Holiday lets and Airbnb properties
- Dog exercise fields
- Farm shops and rural enterprises
- Solar farms and renewable energy projects
- Commercial property opportunities
Our multidisciplinary team can advise on the legal, tax, property and financial planning implications of diversification projects.
"My experience is with a very professional team who are always happy to help and advise." Legal 500 UK 2027
Pension and wealth planning
Many farming families have significant value tied up in land and business assets but relatively little elsewhere.
Our financial planning specialists help clients develop strategies that create greater flexibility through:
- Pension planning
- Investment portfolios
- Tax-efficient savings
- Business and personal protection planning
- Retirement income strategies
Joined-up legal and financial advice
One of the greatest challenges facing farming families is that succession, inheritance tax, property ownership and financial planning are all interconnected.
At Tees Law, our legal and financial advisers work together to provide coordinated advice, helping you make informed decisions with confidence and clarity. Whether you’re reviewing your estate, restructuring your business or planning for retirement, you’ll benefit from a joined-up approach designed around your family’s objectives.
Looking ahead
The farming landscape is changing rapidly. While these changes bring uncertainty, they also create opportunities for businesses that plan ahead.
By taking a proactive approach to succession, taxation, diversification and wealth planning, farming families can strengthen their financial position, support future generations and safeguard their legacy for years to come.
Talk to our agricultural wealth specialists
Whether you’re concerned about inheritance tax changes, planning to pass the farm to the next generation or exploring diversification opportunities, our team can help.
Get in touch for a confidential discussion about protecting your family’s future.
We have offices across Cambridgeshire, Essex and Hertfordshire, but we can help you wherever you are in England and Wales.
Get in touch
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This material is for informational purposes only and does not constitute an offer or solicitation for the purchase or sale of any financial instrument. It is not intended as accounting, legal, tax, or investment advice. Past performance is not indicative of future results, and all investments carry risks, including the potential loss of capital.
Tees is a trading name of Tees Financial Limited, authorised and regulated by the Financial Conduct Authority (FCA), Registered number 211314, and registered in England and Wales (Company number 4342506).
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