Selling agricultural land, tax advice

brodawel

Yes I see what you mean.

They are asking a hefty price for this property and we feel we are paying too much tbh but if it's the only way of getting it then we'll still buy it. I suppose it's just that we are paying for something we don't want i.e. the land, but as you say it still holds a value of it's own, and as a whole. They are keeping a further few acres so we asked if we could just buy the house and large garden but alas not.

smallholdingsister

Davesnave I think you own the kind of house I (and lots of others) are looking for.

Its a good point though, you never know when you might want the land back.

Parcel it up and rent as allotments?

Davesnave

smallholdingsister wrote: »

Davesnave I think you own the kind of house I (and lots of others) are looking for.

Its a good point though, you never know when you might want the land back.

Parcel it up and rent as allotments?

Allotments need to be close to populations which want them.

I'm a hands-on owner, so the loose tenancy I have here is really more of a partnership between a local farmer and me.

I'm aware that I could get more ££ renting to equestrian interests, but that would go against my belief that good land should be used to produce food.

To be honest, if I wanted to cash in, I'd probably do best halving the land and throwing in the barn for development under Section Q.

smallholdingsister

There is a lot of that going on round here.

Davesnave

Again, I'm aware that selling the barn as a single development property with land would give the best return, with similar structures going for £200-300k around here.

However, another large barn conversion is not what the local area really needs. What's most wanted is affordable homes for local young people, but the economics of turning it into 3 of those probably don't stack up so well.

I've decided to sit on my hands for now!