Online sessions are being held to help farmers with tax and succession planning following the inheritance tax changes announced in the Autumn Budget.

The Farmer Network held an open meeting for farmers last week at Penrith Auction Mart at  which Farmer Network Chair, Rob Hitch, a farm accountant and tax specialist, ran through the rule changes, and what farmers might do to start the process of tax planning and farm succession.

The meeting was filled to capacity with more than 100 farmers attending, with others put on a waiting list. To meet demand for the information, the Farmer Network has arranged two online Zoom meetings in December with more workshops planned for the New Year.

The Zoom meetings are on:

Wednesday, December 11 at 7pm, aimed at farmers in Cumbria and Northumberland. The speakers, Andrew Robinson of Armstrong Watson Accountants and Tom Wills of Sinton’s Rural Services, will run through the proposed IHT tax changes, property reliefs, legal wills and power of attorney, all of which will be relevant in succession planning.

Monday, December 16, at 7.30pm, aimed at farmers in the Yorkshire Dales. The speakers, David Thomas of The Barker Partnership Accountants and Michael McGarry of McGarry and Co Solicitors will be tackling similar themes, and they will be joined by Peter Beresford of the Farming Community Network.

Farmer Network managing director Adam Day. who will be chairing the first meeting, said: “Farm tax is no longer a dry subject and there are a lot of concerned farmers out there looking at their future in a completely different light following the budget. Our two online meetings will be a useful resource for farmers to better understand the tax changes and some potential solutions to consider."

The meeting for Cumbria/Northumberland is being supported by the National Lottery Reaching Communities Fund and by the Defra Welfare Fund for Yorkshire.

Places can be booked by contacting the Farmer Network Head Office on 01768 868614 or e-mailing admin@thefarmernetwork.co.uk.