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We are at present seeking to restructure a client's farming operations and are a little uncertain as to the SDLT implications of what is being proposed.
Farmer A presently owns land let on an old style agricultural tenancy to a family farming company which he manages. He owns 33% of this himself, his parents 37% and other family members 30%.
This farming company carries out the bulk of the farming operations and owns the single payment entitlement.
We are at present seeking to restructure a client's farming operations and are a little uncertain as to the SDLT implications of what is being proposed.
Farmer A presently owns land let on an old style agricultural tenancy to a family farming company which he manages. He owns 33% of this himself his parents 37% and other family members 30%.
This farming company carries out the bulk of the farming operations and owns the single payment entitlement.
There is also a separate livestock partnership which occupies land on a licence basis from the limited company and carries out its activities as a partnership between Farmer A his wife and his parents.
For a number of tax and commercial reasons including simplification of their affairs it is suggested that just one farming business should be conducted involving being a partnership between the limited company and the family members....
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
