Once you have decided to acquire an asset such as a landed estate, the next decision is how you will own it.
This will have material consequences: for when you buy it; throughout your period of ownership; and when you pass it on to the next generation or sell it.
Tax is always a key consideration, the principal taxes being inheritance tax, capital gains tax, corporation tax (for a corporate vehicle) and, where English or Northern Irish land is involved, stamp duty land tax (equivalent taxes apply in Wales and Scotland). Inheritance tax and capital gains tax have changed significantly in recent years, especially in their application to international buyers, meaning that ownership structures which were appropriate a few years ago are no longer suitable.
We aim to understand your circumstances, aims and priorities in the short and long term, in the context of the particular asset you are buying as well as your wider estate. We then set out the options for you and all of their consequences (tax, succession, asset protection and so on) in clear and simple terms. This should include how you best approach any form of relationship dispute and incapacity in the family. We believe that the structure must be appropriate in practice and not just on paper; after all, you and your family may live on the estate for a considerable period of time.
Once the ownership structure is agreed we can prepare and implement a UK and, if required, international succession plan dealing with your worldwide assets. Part of this may include discussions about family governance, securing your assets for generations to come. Should disputes arise in the UK or abroad, our UK and international network of lawyers can advise and support you.
Our advice is not limited to typical assets such as UK land and property. We can advise in relation to specialist assets associated with landed estates such as art and valuable chattels. And should you wish to diversify into agricultural or other investments in the UK or abroad, then we can advise on appropriate ownership structures for these assets too.
Strategic Planning for Modern Landed Estates
The second in our series of articles on succession planning for landed estates covering a wide variety of matters.
Succession Planning for Landed Estates
The first in our series of articles on succession planning for landed estates covering a wide variety of matters.
In conversation with Lady Ashcombe of Sudeley Castle
Watch Henry Fea and Lady Ashcombe in our two part video series.
Stewardship: word of the moment, guiding principle for past generations and shining light for the next
If stewardship is an old idea, why are we talking about it now?
Diversification of landed estates – a trade mark lawyer’s advice...
Mary looks at the diversification of landed estates and offers her expert advice from a trade mark perspective
Landed Estates and Historic Properties: Business Interruption
Tim Maxwell and Manoj Veghela discuss the implications of business interruption.
Naomi Nettleton and Tristram van Lawick quoted by Citywealth on the ways in which landowners are embracing change to sustain and diversify their operations
Landed Estates and Historic Properties: Staging outdoor events – part 3
The third part in our staging outdoor events series, discussing data protection and insurance considerations for Landed Estates
Landed Estates and Historic Properties: Staging outdoor events - part 2
The second part of our series on the various elements to consider when staging outdoor events
Landed Estates and Historic Properties: Staging outdoor events
Naomi Nettleton discusses the issues with Simon Foster, Director in Tourism, Leisure & Events at Savills.
Tristram van Lawick
Landed Estates: The Whole Estate Plan
How the current market demonstrates the need for a clear whole estate plan rather than approaching each matter in isolation.
What should I consider when gifting heritage and farm property assets?
Listen to Alex Caton and Louise Paterson discuss gifting heritage and farm property assets.
UK resident non-UK domiciliaries: the remittance basis
Non-domiciliaries planning on becoming resident in the UK ought to be aware of the remittance basis of taxation.
Non-UK domiciliaries: Inheritance tax issues and opportunities
An introduction to inheritance tax issues that need to be considered where a “non-dom” is planning on becoming resident in the UK.
Charles Russell Speechlys recognised in the latest edition of The Spears 500
The annual report is based on peer nominations of the UK's leading private client lawyers.
29 lawyers ranked in Chambers High Net Worth Guide 2017
We performed extremely well and received some fantastic feedback from clients and contacts.
The New UK Trust Register: Impact on UK trusts and trustees
New Money Laundering Regulations contain considerable new obligations on trustees and transparency measures to look out for
Succession in UK Family Businesses
If you are a family business owner, now is the time to tackle those difficult questions on succession for the long term benefit.
The business of Lasting Powers of Attorney
Lesser known is that Lasting Powers of Attorney (LPAs) are as important to those who run their own business interests as to the elderly.
The Timing of Financial Orders
Lexis PSL discuss the judgment in K v K (Financial Remedy Final Order prior to Decree Nisi) with Grant Howell.