NORTH-EAST farmers have been urged to start the New Year by making plans to keep their business in the family.

Research by rural insurer, the NFU Mutual found less than 40 per cent of farming families have an effective succession plan in place.

The agency's succession planning service guides farming families through the process of agreeing a plan for the long-term future of the farm.

Jayne Watson, agent at the Morpeth branch, said: "We understand that it’s a difficult subject to raise, but taking the first step is the hardest part and we’re here to help at every stage.

"As the insurer of three-quarters of the UK’s farms, we know that farming is not just a business but a way of life, often spanning generations and involving the whole family.

"Whether farmers decide to hold onto the farm until death or give it away during their lifetime, having a plan in place will ensure the transition happens more smoothly and help their families to avoid paying unnecessary tax."

Contact the NFU Mutual’s succession planning service in the North East on 01670 511252 or morpeth@nfumutual.co.uk.