Turcan Connell farming breakfasts in Inverurie, Perth and Inverness gave farmers a chance to hear from experts about key issues facing the industry.
The legal and tax planning specialist shone the spotlight on controversial inheritance tax (IHT) changes, asset valuations and policymaking at the three events.
And with farmers and crofters across Scotland trying to navigate their way through a time of unprecedented upheaval, there was lots of interest.
No time like the present to start preparing for looming tax changes
On the IHT changes, which will see access to valuable exemptions slashed from April 2026, the key takeaway from the sessions was that people should start preparing now.
Each Post Budget Farming Breakfast had a different lineup of speakers.
At Thainstone Centre, near Inverurie, Alistair Rushworth, a partner in Turcan Connell and also part of its land and property team, gave the formal welcome.
From Thainstone to Perth
Paul Macaulay, Turcan Connell’s head of tax and succession, then give his perspective on the looming changes to IHT.
Eleanor Kay, who leads on farming policy development at Scottish Land & Estates (SLE) threw the spotlight on key regulatory changes north of the border.
Aberdeen & Northern Estates (ANE) director James Presly focused on asset valuations.
Guests at the next event at Perth Racecourse heard from Turcan Connell duo Graeme Gass and Murray Soutar.
They were joined by Nick Ainscough of property consultancy Galbraith and James Buchanan from the National Farmers’ Union Scotland (NFUS).
And then to Tomatin, near Inverness
For the third and final session at Strathdearn community hub in Tomatin, near Inverness, the lineup featured Mr Gass, Claire Acheson of property consultancy Galbraith and Ian Wilson from NFUS.
The breakfast events came in the wake of Holyrood approving the Scottish Government’s financial plan for 2025-26.
Questions for the experts ranged from those focused on the implications of IHT changes to how farmers can best respond to the growing demands of climate-change mitigation.
Farmers facing a raft of tax changes
Mr Gass reminded everyone in Perth and Tomatin there is more for farmers and crofters to think about in terms of tax changes.
Employer national insurance contributions increase from April 2025, while pensions will be subject to inheritance tax from 2027, he said.
Treasury figures suggest nearly three-quarters of estates claiming agricultural property relief and the majority of those claiming business property relief in 2026-2027 will be unaffected by IHT reforms, he added.
Union keeps up the pressure
NFUS speakers updated their audiences on the union’s efforts to persuade UK Government ministers to scrap or at least dilute their controversial IHT plans.
The government has shown no signs it will bow down despite these talks in London and a series of tractor rallies across the UK, they said.
Union lobbying will continue to strive for “some softer messaging from the Treasury” after a poll found 85% of farmers believe the IHT changes will affect them, they added.
Breakfast guests heard how the proposed tax changes are causing considerable anxiety among farmers throughout the UK.
This is hitting confidence in the sector – as well as people’s health and wellbeing – at a time when food security has never been more important to Britain, the NFUS duo said.
Ms Kay, of SLE, took a deep dive into government policy north and south of the border.
The ANE and Galbraith speakers both highlighted how accurate asset valuations are now “critical” in light of the tax changes.
Farmers and crofters need to be “pro-active rather than reactive”, Ms Acheson said, adding: “Back of the fag packet valuations are not sufficient, given what’s at stake.”
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