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Farming arrangements
Key points
- Revised subsidies under the Agriculture Act 2020 may lead to a review of farming arrangements.
- The advantages of shared farming methods.
- Those involved in contract farming must ensure that a trade is carried on.
- Share farming agreements should reflect the parties contributions.
- Farmers using a joint venture structure should ensure they are not in partnership.
With so much uncertainty in the farming industry and the future capital taxes legislation that impact on farms it is essential to look at alternative farming solutions. The need to review contract farming agreements and other alternatives has never been greater amidst all this change. First there has been the Agriculture Act receiving royal assent on 11 November 2020. This has led to the loss of ‘area based’ subsidies to be replaced by ‘public goods’ subsidies to restore the landscape under public products. In addition there has been the review...
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