Land agency Sheldon Bosley Knight has responded to farmers’ concerns over the government’s inheritance tax (IHT) plans for farmers.

Peter Williams, the company’s rural director and a farmer himself said: “As the next generation farmer destined to take on the responsibility of running our family farm, the winter budget announcements have brought to the forefront of my mind the need to ensure that the core who hold together the farming sector are protected and generational knowledge is retained.

“Indeed many of us will now be taking stock and asking ourselves how we can mitigate against the increased challenges facing the rural sector, and indeed our own livelihoods.

“Farmers are always at the forefront of facing new challenges, but the added pressure of IHT liabilities on land which farmers simply want to farm and ensure they retain for the next generation, is of real concern.

“Undoubtedly there are always opportunities out there, and planning early can pave the way for the protection of our livelihoods and legacies. Whether it be developing strategies to minimise IHT liabilities, creating a roadmap for the smooth transfer of the farm to the next generation, identifying opportunities to reduce tax burdens, or implementing measures to safeguard assets from potential risks, our firm is dedicated to helping farm owners navigate these changes and protect their legacy, and we offer comprehensive estate planning services to suit our clients.”