DYNE DREWETT SOLICITORS LIMITED.

Farm Partnerships

Farming is often a lonely and time-consuming business and most farmers would wish to share the burdens and responsibilities with others. Sharing the profits and benefits however is a different matter!

Even within family farming arrangements there is no doubt that having an agreement makes working together much easier. Whether that agreement is in the form of a partnership, a limited liability partnership or limited company depends on individual priorities and concerns. Entering such agreement should never be taken lightly and without considering implications for tax, succession, inheritance and future changes in circumstances. Advice often provided by Agents, Accountants and those with whom you do business often appear conflicting and confused. Clear legal advice should be a prerequisite for all parties entering any form of business relationship and our offices in Sherborne, Shepton Mallet and Wincanton are all suitable locations for these issues to be discussed.

When and if to bring the next generation into the partnership, and on what terms, is a complex and sensitive issue. Get it right first time if you can.