Director - Agriculture
Director - Agriculture
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. Wayne’s work is varied and has included:
- 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.
Wayne has written for national publications including the ICAEW’s member magazine Taxline and Taxation magazine and enjoys public speaking engagements running his annual farm briefing for clients.
In his spare time Wayne is working towards a long term dream of being a pilot, so he may be flying overhead on the weekend! He has also volunteered at a number of organisations and is always on the look out for ways to help and to get involved with the community.