UUÂãÁÄÖ±²¥

Agricultural tenancies

Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance

Agricultural tenancies

Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance
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,

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+â„¢
Powered by

Popular Articles

Research and development expenditure credit (RDEC)

Research and development expenditure credit (RDEC)This guidance note provides information on how research and development expenditure credits (RDEC) are calculated and utilised. The Qualifying expenditure for R&D tax relief guidance note provides information on what expenditure qualifies for

14 Jul 2020 13:24 | Produced by Tolley in association with Will Sweeney Read more Read more

Payments on account (POA)

Payments on account (POA)This guidance note provides and overview of the payments on account regime (POA). More in depth commentary can be found in De Voil Indirect Tax Service V5.110.What are payments on account?VAT registered businesses with an annual VAT liability of more than £2.3m are required

14 Jul 2020 12:52 | Produced by Tolley Read more Read more

Self assessment ― amendments and corrections

Self assessment ― amendments and correctionsOnce a self assessment tax return has been filed, both HMRC and the taxpayer (or the agent) has the right to make changes to the return. There are different time limits depending on whether it is a correction by HMRC or an amendment made by the

14 Jul 2020 13:37 | Produced by Tolley Read more Read more