Running a successful rural business has always been a challenge. Our agricultural division deals with many farming and rural businesses and therefore understands the issues that you face. As a client of Lentells, you will discover the benefits of a long-term working relationship in making those all-important decisions. 

Our specialists come from farming backgrounds, meaning they fully understand what it takes to run a rural business. We work with you, offering friendly, expert advice and support on a wide range of accounting, tax and financial issues. This then allows you to focus on running, growing and developing your farming business and do what you enjoy most. 

Our agricultural team is headed up by Debbie Thatcher FCCA and Mike Griffiths FCCA from our Taunton and Seaton offices respectively, supported by a highly trained team. 

The tailored services that we can provide for you include:

• Accounting – prompt, accurate year-end accounts, allowing you to plan ahead
• Budget forecasting – helping you plan the period ahead to enable the optimum cashflow and timing of expenditure 
• Management accounts – interpreting the data to provide you with invaluable management information 
• Tax planning – to help you maximise the reliefs available and minimise the tax burden
• Retirement and succession planning – allowing you to retire and leave a viable business for your family 
• Lasting Power of Attorney – to help you decide what will happen to your farm in the event of an accident 
• Estate planning – including a review of your Will, the use of Trusts and even dealing with Probate and Estate Administration
• Payroll – through our dedicated payroll department
• Bookkeeping and VAT services 
• Advise and support with cloud accounting 

 Agricultural Succession Planning 

Many farming businesses do not see the need for written partnership agreements or have formal succession plans in place. However, having a clear agreement provides clarity and certainty between partners, protects investment in the business and generally ensures that the business is run in the most tax efficient way. Drawing up a partnership agreement need not be a complicated or expensive exercise and brings with it peace of mind and future security. 

A succession plan should be discussed with everyone involved before a formal documentation is finalised to make sure that everyone is happy with their role and the forward plan of the farming business. A good succession plan will ensure the security of the farm and will provide a route for the direction of the business. This means that the future of the farm and the farming business is more secure and is more likely to be successful. 

We can provide advice and support on succession planning to help you leave a viable business for your family. Please contact our specialist agricultural team for more information.