“FARMERS – HOW TO SUCCEED IN SUCCESSION” Monday 25th November 7pm at Penrith Auction with Saviour Associates and Dodd & Co

The Autumn budget delivered by Chancellor Rachel Reeves has ignited dismay and huge debate across the farming community. As the dust settles, agricultural advisors are urging farmers to take a breath, take stock, and then take advice.

The Farmer Network, a not-for-profit farmer support organization working with farmers across Cumbria, Northumberland and the Yorkshire Dales, has received many calls from farmers, asking for information about the changes to Inheritance Tax rules and how to address the elephant residing in many farmhouse kitchens - the need to plan for succession.

In response to requests for information, the Farmer Network has organized an open meeting on “How to succeed in succession” on Monday 25^th November from 7pm at the Gavel Restaurant in Penrith Auction.  The meeting, which is being funded by the Defra Welfare Fund, will include Heather Wildman of Saviour Associates and Rob Hitch of Dodd & Co as the main speakers with the help of other local accountants and solicitors.

Cumbrian farmer’s daughter, Heather Wildman of Saviour Associates, is an expert on farm succession.  She will cover how to begin the process of creating a succession plan and how to handle what can be difficult family discussions. Farmer Network Chair, Rob Hitch, who is a farm taxation specialist with Dodd & Co Accountants, will also talk through the changes to APR and potential solutions to reduce IHT liability.

The meeting will be chaired by the Farmer Network’s Senior Project Manager, Veronica Waller, who says: “our meeting is intended to offer farmers an understanding of the tax changes announced in the budget and the options available to reduce IHT liability.  We also want to help farming families address the “elephant in the room” and start planning succession.  It has never been more important to have these conversations and a clear plan of action”.

As well as the main speakers, the Farmer Network has also invited other businesses to attend to talk to farmers on the night, including accountants, solicitors and financial advisors.

A hot sausage or bacon roll will be served at the start of the meeting and places must be booked by 12 noon on Friday 22^nd November. Farmers can book by:

Calling (01768) 868615, Texting: SUCCESSION to (07714) 187034, emailing admin@thefarmernetwork.co.uk or booking on Eventbrite at: https:/bit.ly/Succession25NOV