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PARTNERSHIPS, SHAREHOLDERS AND HEADS OF TERMS

Farming family businesses have sadly made The Law Reports frequently over the last few years. Each case tells a very unhappy story many of which mark the end of what in times past were clearly contented farm families. Each one indicating a breakdown within the family,...

Valuing a Business or Share in a Business

Introduction A business or one parties interest in a business may need to be valued for a number of reasons. The common ones are when anticipating: (A) A retirement (planned or forced) (B) A sale or on death of a member or valuation on divorce (C) One parties...

HORSES AND LIVERY YARDS

For decades the Revenue’s approach when using land on which to keep horses has been that it is not agriculture, nor in many cases would it be regarded as a business for which business property relief on death would be allowed.   Rather it is the nature of an operation...

HOLIDAY LETS

Many rural land owners were encouraged by the Government and/or their Bank to supplement their farming income through: (a)          developing that old and possibly redundant barn for holiday or longer lets and/or (b)          having to learn to manage without the...

PARTNERSHIPS

A.  INTRODUCTION Preparing a written Partnership Agreement which defines the parties, the partnership intention and the assets to be used, can be so helpful to record the agreement and should be an essential part of any rural business planning [see Lord Hoffman in IRC...