£1m+ Farm Land sale for housing development

quintain

What considerations are needed to gain maximum financial return when selling English registered farm land with planning permission for housing to a housing developer. The land is owned by  a UK registered company, the company is VAT registered. The recieved capital will be given to  a charity on the death of the present low income elderly UK citizen land owner. A 5acre piece of farm land will be retained and continued to be used for farming.

jimjames

I suspect the best solution for you will be to pay a solicitor/accountant/tax adviser for advice. This isn't really the expertise of a consumer forum like this so having tailored advice to your circumstances would appear to be money well spent with the complications you've outlined.

Section62

quintain said:

What considerations are needed to gain maximum financial return when selling English registered farm land with planning permission for housing to a housing developer. The land is owned by  a UK registered company, the company is VAT registered. The recieved capital will be given to  a charity on the death of the present low income elderly UK citizen land owner. A 5acre piece of farm land will be retained and continued to be used for farming.

£1m is a lot of money, the professional fees to set things up to the maximum advantage of the elderly land owner and eventually the charity would represent only a very small percentage.

Much better to get professional advice rather than DIY it and make an error costing the landowner/charity a six-figure sum.

Has the land already got planning consent?  Did the developer funded that?  Is there a contract with the developer already in place?

MX5huggy

Seems like a Question from a badly written exam to me.