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Chapter 10: The ‘reluctant’ and ‘lifestyle’ farmer

Tax Planning for Farm and Land Diversification

Author:
Julie Butler (FCA)
Publisher:
Bloomsbury Professional
Publication Date:
2024
Law Stated At:
24 September 2024
Introduction The tax advantages of buying a ‘lifestyle farm’ Maximising ‘reluctant’ tax reliefs Reluctant diversifying landowner Reluctant farm practitioner The need to refer to a specialist Grant to right of herbage The move from traditional farming The importance of a business The concern of the grazing agreement as an investment business Lifestyle farmer The ‘lifestyle farmer’ – the non-commercial business The ‘asset stripper’ Reluctant farmer – capital taxes checklist Sheltering development profits/gains in farming Unable to shelter development profits/gains in let land Farmers trading in land The rollover buyer – Impact of BADR Rollover buyer and inheritance tax The rollover buyer and farm improvements / The farmhouse Tax protection of ...

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