Succession planning in the spotlight – What farming families can learn from Glastonbury Festival

By Andrew Heskin, Partner and ARA specialist

Michael Eavis, founder of the Glastonbury Festival, has recently passed shares in two of the event’s companies to his daughter and into a family trust.

While the festival may seem a world away from agriculture, the move offers a timely example of how succession planning can help preserve family-run businesses for future generations.

Rising values and changing tax rules

Farms and rural businesses often hold significant value in land, property, and trading assets.

With last year’s Autumn Budget revealing reforms to Agricultural Property Relief (APR), it is a good time to check how everything is set up and make sure your plans for handing it down won’t lead to a big tax bill.

Using family trusts and share transfers

Eavis’s decision highlights common estate planning tools available to farming families, including placing business interests in trusts and transferring shares during one’s lifetime.

These options can help reduce potential tax liabilities while maintaining continuity and control within the family.

Balancing business, legacy and community

Succession planning means making sure your farm stays in good hands, runs the way you want it to, and continues to support the local area.

For many families, that includes keeping the business together, helping the next generation get ready, and making sure the land keeps serving its purpose.

How we can help

We work with agricultural clients across the region to create tailored succession and estate planning strategies.

If you are thinking about the long-term future of your farm or rural business, speak to our specialist advisers to explore your options.