Passing on Old MacDonald’s farm

KEY POINTS

• Who qualifies?
• The evidence and legislation.
• The particulars of size.
• Letting the land.

It is fair to say that farming is different from most other businesses for various reasons. The land and buildings are the source of the business profits but are also the home of the farmer.

Additionally the farmer’s parents or in-laws may have carried on the business before him and may still be in business with him as partners.

They could even own the land and buildings. In many cases these will have been in the family for generations so there will be an expectation that the farmer’s children will succeed him in business causing the present occupier to regard himself as the ‘guardian’ rather than...