The benefits of drone technology, pre-nups and tax planning were assessed at the Savills Autumn rural seminar at Stoke Rochford Hall this week.
More than 100 local landowners, farmers and professionals gathered to hear experts from Savills, Taylor Vinters and Saffery Champness discuss the latest trends affecting rural and residential property in the area.
Johnny Dudgeon, head of the Lincoln office at international real estate adviser Savills, who chaired the event, said: “Rural property owners are facing an unprecedented level of change; from Common Agricultural Policy reform to drone technology opportunities and from commodity price fluctuations to tax issues. We hope the event has highlighted the important priorities for rural business, as well as providing some interesting insight from our residential research team.”
Peter Lee, a drone lawyer at Taylor Vinters, said: “Unmanned aircraft or drone and sensor technology has advanced to the point where its use can have a major impact on business efficiency. It is predicted that agricultural drone use has the potential to be a $30 billion market over the next decade. The UK is at the forefront of drone technology and we have the opportunity to exploit the major impact that drones will undoubtedly have on the global agricultural marketplace.”
Jackie Wells, head of family team at Taylor Vinters, said: “Some forward thinking in terms of pre-marital or cohabitation agreements can be a very effective means of limiting the emotional and financial impact of relationship breakdowns. This is all the more important where assets have passed from one generation to the next and the interests of the wider family are at stake.”
Stephen Collins, a partner at accountancy firm Saffery Champness and head of its Peterborough office, added: “The tax landscape is forever shifting and it’s important for the owners of land and rural businesses to ensure their plans remain effective and efficient for their current and future needs.”