Our multi-disciplinary team worked with a farming partnership to transfer its assets to a new limited company in order to save tax. Our expertise and experience ensured the success of the deal.
Our client was a farming partnership which had been advised to transfer assets to a limited company by its accountants. The business was complex. It owned a number of properties, some of which were being used to secure borrowing. James Partridge (Corporate and Commercial) and Sue Lister (Commercial Property) worked closely with the client and its accountants to make the change. This involved drafting new partnership and company documents, advising on new banking security and guarantees, transferring ownership of all of the properties and ensuring Stamp Duty Land Tax (SDLT) relief was available. Our multi-disciplinary approach and commercial experience ensured the complicated arrangement was completed smoothly and effectively.