³ÉÈËÓ°Òô

Agricultural tenancies


Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance
tag-icon Autumn Budget 2024

Agricultural tenancies


Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance
tag-icon Autumn Budget 2024
imgtext

Land subject to an agricultural tenancy may qualify for agricultural property relief (APR) for the landlord. However, the extent of the relief and the qualifying conditions for tenanted land differ in some respects from land which is farmed ‘in-hand’. ‘In-hand’ farming is the activity of the landowners farming the land themselves. The differences relate to:

  1. •

    the rate of relief

  2. •

    the qualifying ownership period

  3. •

    the availability of business property relief (BPR)

  4. •

    the availability of APR on the farmhouse

The rate of relief

Types of tenancies

Prior to September 1995, farm tenants were granted security of tenure under the Agricultural Holdings Act 1986 (AHA). All AHA tenancies, as a general rule, continue in force from year to year, unless voluntarily surrendered or terminated by a valid notice to quit. Twelve months’ notice is required and the tenant has one month in which to serve a counter-notice. In such circumstances, the issue is adjudicated by the Agricultural Land Tribunal, which in theory, can grant possession to the landlord in the interests of good husbandry,

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL
Powered by
  • 01 Nov 2024 07:11

Home/ Tolley Tax Guidance/ Trusts and Inheritance Tax / Advising on BPR and APR

Popular Articles

Corporation Tax

Real estate investment trusts (REITs)

Real estate investment trusts (REITs)Introduction to REITsA real estate investment trust (REIT) is in fact not a trust at all, it is a company which qualifies for special tax treatment under CTA 2010, Part 12. REITs are similar in many ways to collective fund vehicles (such as unit trusts) in that

14 Jul 2020 13:04 | Produced by Tolley in association with Rob Durrant-Walker of Crane Dale Tax Read more Read more
Value Added Tax

Reverse charge ― buying in services from outside the UK

Reverse charge ― buying in services from outside the UKThis guidance note covers the reverse charge that applies to services that have been bought in from outside the UK. For an overview of VAT and international services more broadly, see the International services ― overview guidance note. For

15 Dec 2020 14:02 | Produced by Tolley Read more Read more
Corporation Tax

Non-trading deficits on loan relationships

Non-trading deficits on loan relationshipsOverview of non-trading deficits (NTDs)When a company’s debits on its non-trading loan relationships and derivative contracts in an accounting period exceed the credits on its non-trading loan relationships and derivative contracts in the same period (the

14 Jul 2020 12:17 | Produced by Tolley Read more Read more