Question asked:

0
0

Hi All. I have a situation where a client is going to be gifted farmland from his father. Father should qualify for retirement relief. It is anticipated that his son, my client will claim agricultural relief. The issue arises post acquisition. The son will have to actively farm the land for 6 years from acquisition. However, he will be leasing a portion of the lands to a wind turbine company. Question is, will this result in a clawback of the agricultural relief if it is claimed, given that he wont be using "all" the land for farming. As usual I have only being informed when the process for the transfer is well along, so I would appreciate any views as soon as possible. Many thanks in advance.

Marked as spam
Posted by (Questions: 5, Answers: 28)
Asked on 11 December 2019 3:59 pm
32 views