Each stage of the lifecycle of a primary production business poses particular problems and issues on the operators and in turn their advisers. Initial structuring, which on the surface can appear simple, is often more critical than off-farm businesses of similar size due to the likelihood of requiring a structure suitable for the almost inevitable handover to the next generation.
Not only should the tools used to manage intergenerational transfers be revisited by practitioners periodically but so too should the rules dealing with the so-called operational issues of those businesses.