Rural Business
Our experienced team advises a wide range of rural businesses on their commercial, tax and succession requirements. Our strong reputation in the rural sector together with our considerable private client expertise provides a comprehensive service for our clients.
We understand the long-term nature of many rural businesses including farms and estates, which have been in a family for generations. We can offer the right combination of skills and experience to ensure that the land ownership and business is protected for future generations.
Inheritance tax planning
We understand the importance of tax and succession planning for farmers and rural landowners and have considerable experience advising on business structures which maximise Inheritance Tax (IHT) reliefs, for example where the business may have plans to diversify into wind, water or solar power. We can also advise in relation to businesses with a mix of farming and let properties in order make the most of the available IHT reliefs.
We can review any existing structure and advise of any opportunities which may bring benefits, as well as ensuring that Wills tie in with business arrangements. We always recommend planning ahead in order to reduce the risk of having to sell valuable assets to pay unexpected tax liabilities.
Partnerships
We regularly advise our land owning and farming clients on business structures including those in traditional partnerships, limited partnerships and limited liability partnerships. Our advice often involves preparing, renewing or adjusting existing partnership agreements, as well as on the consequences of any changes, particularly in relation to legal rights, tax, profit share and capital ownership.
Trusts
We have particular expertise in relation to setting up Trusts in order to protect clients and their families and to ensure assets are passed down successfully. There are a number of options for farmers and landowners which provide this protection, as well as flexibility, and we can advise on the most favourable option based on clients’ wishes and circumstances. For more information on Trusts, see here.
Our Offering
News and insights
Safeguard your rural family business
OnFARM podcast: Access to knowledge through NFU Scotland’s legal helpline
OnFARM producer Dave Howard visited law firm Gillespie Macandrew, whose Land and Rural Business team manages NFU Scotland’s legal helpline.
Land Reform (Scotland) Bill introduced March 2024
An overview of the content in Part 1 & 2 of the Land Reform (Scotland) Bill introduced to Parliament on 13 March 2024.
Gillespie Macandrew announced as Great Glen 2024 sponsor
Gillespie Macandrew is delighted to announce its sponsorship of the RSABI Great Glen Challenge 2024.
Gillespie Macandrew appoints new rural specialist to its partnership
Scottish law firm Gillespie Macandrew has appointed rural law specialist, Lizzie McFadzean to its partnership.
Key contacts
Our experienced team comprises expertise from our rural, private client, tax and corporate teams to provide comprehensive support for our clients. Get in touch with one of our team to find out how we can help you.
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Contact the Rural Business team
Please provide a few details about your enquiry in this form and someone in our rural business team will get back to you as soon as they can.
Gillespie Macandrew's partners are available and quick to respond. The ability of individuals to answer the question or to know where to place the question with other colleagues has been exemplary.
Chambers & Partners