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Farming is one of the toughest jobs on the planet.
BSE, foot and mouth, 18-hour scorching hot summer days ruined by a random downpour.
There is always something that cannot be controlled.
This uncertainty is big part of what makes farming difficult.
And whilst working the land is hard, that doesn’t mean your finances need to be.
We know that income from your farm can be unpredictable at times.
And we know that when your income is unpredictable that the last thing you want is for your finances to be unpredictable.
We also know that every farming operation is different and a general approach to your finances will not be the best.
In simple terms, a financial plan should be built to give you a safety net around all the day to day uncertainty.
That way when the rain comes, the tractor breaks and the fields on fire, at least you know that your still okay.
If this sounds like something you might be interested then please get in touch below.
Whilst we provide the bespoke and tailored service of a small firm.
The suitability of our advice has the backing of one of the UK’s largest wealth management companies.
Ultimately, this gives you an extra layer of protection and the best of both worlds.
Our team has won numerous awards including the Personal Finance Society Investment Specialist of the Year 2020. You can read more about our awards by clicking the icon above.
We take the time to get to know you and spend the time to figure out if we are a good fit. We want to work together for the long term to help achieve your goals.
We work with the rural community so we understand the summer is busy and that the profits may not always be clear until the last moment. We can work with you, your team and your accountant to help you plan for the future.
Our team has won numerous awards including the Personal Finance Society Investment Specialist of the Year 2020. You can read more about our awards by clicking the icon above.
We take the time to get to know you and spend the time to figure out if we are a good fit. We want to work together for the long term to help achieve your goals.
We work with the rural community so we understand the summer is busy and that the profits may not always be clear until the last moment. We can work with you, your team and your accountant to help you plan for the future.
We all know that being diversified is key to reducing our risk.
Often farms will have multiple sources of income and assets.
And we guarantee you will know the in and outs of all parts of your operation.
However, there is often not as much thought put into your personal finances. Your pensions or other investments plans are often on the back burner.
So, we take the pressure and do the hard thinking for you.
We make your finances work alongside your business for your future. Instead of having your eggs in one basket we help to reduce your overall risk and provide more diversification.
But this doesn’t happen in one day.
We work with you to work out what risk you’re comfortable with, and what your long-term goals are.
The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
We find out about you and what you want to achieve - as well as gain a good understanding of your current position and explain a little more about us.
Financial planning requires consideration as we need to look at all the opportunities available. Typically, this takes us a couple of weeks but if it is complicated it may take us longer.
We take our ideas and explain the options; the pros, the cons and the costs. We make it simple to understand and then you decide what you want to do.
Once you have agreed to our plan, we work to make it happen. We then review and monitor everything with regular meetings to ensure you continue to receive the advice you need.
Farms used to be exempt from inheritance tax.
However, HMRC’s deeper business probes and changes to the definition of “agricultural” now mean inheritance tax is becoming more of problem.
Many farming businesses are no longer being considered agricultural.
This can have huge impacts on the lifeline of reliefs available.
Inheritance tax is on your estate, which means it includes your business.
With our planning approach we get to know you and your business so we can create effective inheritance plans.
Passing on the farm is one of the biggest challenges you will face.
