According to a recent survey¹ of 1,650 farmers, only half have a farm handover plan in place:

Whichever of these categories you fall into, and whatever your age, it’s never too early to think about – or review – your longer-term plans; both in terms of your farm or business as well as your own personal financial future.

But it’s not only about your handover plan. Farmers, landowners and rural businesses have unique financial planning requirements so it is extremely important that those in rural communities have access to the right professional and specialist advice.

In our experience, a joined-up approach to your financial planning – that involves working collaboratively with a solicitor and accountant – is the right approach.

Axtru Wealth can be at the centre of this collaboration by liaising directly with your existing advisers. Or, if you don’t have these advisers in place already, we can introduce you to specialists that can provide advice tailored to your specific situation.

There are a number of areas where we can add value for farmers and rural businesses:

• Reviewing:

1. Your current situation and financial goals, to ensure a suitable plan is in place that will achieve your goals.
2. Your succession and estate planning, which is likely to include the tax implications of your plans and how you intend to provide financial security to your loved ones.
3. The suitability and performance of your existing investments to help ensure they are on-track to help achieve your financial goals, are the most tax-efficient option for your circumstances, and in line with your risk appetite.
4. Any life insurance (and other protection) policies you have to help ensure they are fit-for-purpose and the most competitively priced.

• Protecting your business from the financial impact that could result from the serious illness or death of a key worker.
• Advising on and managing lump sums generated from the sale of land, a farm or business (or any other capital event) to ensure it is tax efficient and meets your income and/or growth needs.
• Ensuring your pensions (and other retirement planning solutions) remain suitable, competitive and are set up in the most tax-efficient way.

Importantly, all advice provided by Axtru Wealth is priced in line with the complexity of the work carried out and not based purely on the scale of investment.

If you would like an initial no-obligation discussion, don’t hesitate to contact me.

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.

¹ NFU Mutual Voice of the Farmer research with 1,650 UK farmers, published June 2024