Farmers’ succession planning breakfast set to kick off this year’s Nottinghamshire County Show
A breakfast meeting designed to help farmers prepare for the upcoming changes to agricultural property relief is set to take place on the morning of the Nottinghamshire County Show.
The event, which is called Next Generation Ready: Expert Advice on Farm Succession Planning, will be chaired by Sir Mark Spencer and will be held at Newark Showground at 9am on May 10.
The breakfast is open to anyone who has bought a ticket for the show and is part of show organisers the Newark & Notts Agricultural Society’s ongoing commitment to supporting local farmers and promoting the agricultural industry.
Among the issues being discussed during the morning will be how to broach the topic of succession planning with your family and how to minimise the risks to your farming business ahead of the introduction of the £1m cap to agricultural property relief on inheritance tax.
A number of experts, including Michael Ball, tax partner at Streets Chartered Accountants, land agent Charlie Bryant from Brown and Co and Emma Carr, legal director at Shakespeare Martineau, will also be on hand to answer questions and offer advice.
The event is designed to kick off what is expected to be another busy county show, which is the biggest date in the Nottinghamshire rural calendar and attracts around 15,000 people to the showground every year.
Alongside its ever-popular livestock competition and equestrian events, the show will host the Young Farmers’ Clubs lawnmower race and a motorcycle stunt show in the main ring, as well a dedicated section for agricultural trade stands, countryside games and a farriery competition.
Also new for this year’s show will be the final of the Rare Breeds Survival Trust Young Shepherd of the Year competition, underlining the Society’s firm commitment to promoting the rural way of life.
Sir Mark, who served as farming minister under the previous Government, is a well-known figure in local farming and is the Society’s deputy president this year.
He said: “There is a lot of concern about the changes that the Government are making to inheritance tax relief for farmers and so it’s vital that they have conversations about succession planning with their families now.
“The breakfast meeting is one way to help start that process by giving them the advice they need. It’s part of the Society’s work to support our county’s farmers and I hope we get a good turnout.
“I’m very much enjoying being deputy Society president and I’m looking forward to the show. It’s a demonstration of all that’s good about rural Nottinghamshire and there is something for everyone, whether they make their living from agriculture or not.”
Show manager Elizabeth Halsall said: “The county show is the Society’s biggest event of the year and it’s become an extremely successful way for us to celebrate agriculture and farming across Nottinghamshire.
“The breakfast event underlines our commitment to supporting local farmers, who will receive complimentary refreshments and will then be able to enjoy the show itself.”
To register your place at the 9am breakfast event please send an RSVP to lucy.kitchen@newarkshowground.com before May 2. Tickets and information on how to become a member of the Society and enjoy exclusive access are available at www.nottinghamshirecountyshow.com
