Wrigleys Solicitors

Agricultural property

Agricultural property presents the tax planner with all the problems of other business property, and some special considerations of its own. These may include:

• a gross disproportion between the capital values of the assets involved, and their ability to generate income


• almost unprecedented trading difficulties in the sector, coupled with the threat of political manipulation


• strong emotional ties and family feelings


• the widely differing tax treatment of ostensibly similar farming structures


• tax problems as farmhouses/cottages come out of agriculture, cease to qualify for relief and increase in value


• unitary characteristics, or "lumpy assets" which may make it difficult to provide for non-participators in the business


• complications associated with new ventures and diversification

Our tax planners work closely with our agricultural and property specialists, in an area where understanding of the sector is all important. Again, settlements play a major role, given the normally absolute necessity for the landowner/farmer to be able to plan long term, and the frequent impossibility of being able to cope with a significant third party claim (as on divorce) and continue a viable business. Often, too, a relatively minor adjustment to the legal framework of the business - in hand or tenanted, contract or lease, partnership or company - will transform the family tax position.

Main contacts

• Matthew Wrigley
• Julia Boyes
• Lynne Bradey
• Ann Duchart
• Peter Greswold