Penelope Lang
People

Penelope Lang

Partner

Areas of expertise

Land-based family businesses; disposals of land; inheritance tax (IHT); succession planning; taxation of bloodstock; trusts.

Experience

Penelope provides advice to a wide range of clients including to other professional firms. She advises in relation to family businesses and in particular vendors in land transactions.

She looks after bloodstock clients and uses her experience in the bloodstock and sports horse industry to advise proactively. She also works in conjunction with other professional advisers in relation to non-UK residents and domiciliaries investing in bloodstock in the UK.

Notable achievements

  • Restructuring a valuable family business to allow succession to the next generation.
  • Structuring partnerships to take account of available reliefs for capital taxes, CGT and IHT.
  • Settling numerous disputes with HMRC including, business property relief on commercial woodlands, bloodstock businesses, limitation of relief for trading losses and overdrawn loan accounts.

Professional qualifications/memberships

Chartered Accountant, Chartered Tax Adviser, Member of the Society of Trust and Estate Practitioners (STEP). Member of the Scottish Taxes committee. Institute of Chartered Accountants of Scotland.

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Event

Navigating business relief: a webinar for UK businesses and their owners’, in partnership with Family Business UK

Emma Queen Laura Hayward Neil Davy

Multiple Speakers

Emma Queen, Laura Hayward, Neil Davy

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Article

Five important tax changes from April 2025 to keep on your radar

With IHT changes dominating the tax headlines, what other key tax changes should you be aware of?

Contact Penelope