Wayne joined Bulley Davey in 2017 to grow the agricultural specialism of the firm having spent over a decade in roles dedicated to the agricultural sector, both in audit and accounts and in tax compliance and tax planning.
Wayne qualified as a Chartered Accountant in 2012 with the ICAEW and is currently working to become a trust and estates practitioner with the STEP qualification.
He enjoys working with farmers and their families getting to the bottom of what can often be a complex and detailed history. Recent work includes:
- Family restructure of multiple companies, unincorporated and personal interests. Creating a tax efficient structure and planning for gifts, succession and interaction with trusts.
- Splitting of a farming partnership in to two distinct operations. Dealing with exchange of joint interests and factoring in succession for the retiring partners.
- Negotiations and calculations for partner, retirements, contentious and non contentious. Liaising with all professionals to achieve a good outcome.
- Demerger of a farming company in to two distinct operations. Restructuring all existing tenancies and a wide variety of practical complexities.
- Expert witness in AHA 86 tenancy succession, challenged on the grounds of livelihood. Full financial analysis for use in tribunal proceedings.
- Frequent conversations and actions concerning the successful qualification of property for Business Property Relief and Agricultural Property Relief.
- Planning on various farms to maximise asset value and income streams. Looking at diversified activities that help families to earn money but also to live life how they want to.
- Farm sale and securing Entrepreneurs Relief. Advising on life after the sale including effective investments and/or continued alternative trading.
- Land purchases and the possible implications, tax, practical, borrowing or otherwise.
- Reviewing options to incorporate unincorporated farms. Considering IHT, CGT, SDLT, VAT, Income Tax and legal implications.
- Share valuations of farming companies for various reasons (e.g. Probate, Matrimonial, Sale).
- Pension planning.