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Farming for relief?
Key points
- Business asset disposal relief (BADR) may be available on sales of land following changes to the agricultural subsidy system that have prompted many estates and farming businesses to consider land disposals.
- Development land sales can be structured to ensure that BADR is available on the land disposal.
- Given that most wedding and festival businesses are likely to make use of core estate land this may preclude the use of BADR.
- The interaction with other taxes also need to be considered.
Against a backdrop of changes to the agricultural subsidy system and the continuing coronavirus pandemic we have found that estates and farming businesses have been prompted to undertake reviews of their operations. This has included streamlining or diversifying primary activities but also looking to take advantage of current land prices and the continued demand for land to assist with large-scale housebuilding through capital gains tax...
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