In the News: Glastonbury’s legacy plan – A headline act in smart estate planning

There’s been a lot of noise about Glastonbury’s value, but whatever the figure, one thing’s clear: new IHT rules mean both the festival business and the Worthy Farm estate face a significant tax hit on Sir Michael’s death. So, the family’s proactive planning deserves applause, not criticism.

Last October, Sir Michael gifted his shares in Glastonbury Festival Events Ltd to Emily. If he lives another seven years, those shares fall outside his estate for IHT purposes. Meanwhile, 75% of shares in the holding company, Glastonbury Festivals Limited, have been moved into a trust, potentially saving the family around £80m.

With the land itself also vulnerable to IHT thanks to recent rule changes, these steps show foresight and smart use of reliefs still available, just as Parliament intended.

As Glastonbury said, “With his 90th birthday approaching, Michael Eavis has proceeded with his long-held plan to pass control of the festival over to his daughter, Emily.” She’s already running the show day-to-day; this is simply the encore.

This is succession done right, celebrating legacy, family, and the business brilliance behind one of the UK’s most iconic events.

At Greenwoods Private Wealth, we work with families and business owners to navigate exactly these kinds of challenges, combining legal expertise with a deep understanding of wealth, legacy, and long-term planning. Whether you’re looking to future-proof your estate, pass on business assets, or explore trust structures, we can help you make the most of the current Inheritance Tax reliefs before the rules change again.