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Taxation magazine queries ― farmers

Produced by a Tolley Owner-Managed Businesses expert
Owner-Managed Businesses
Guidance

Taxation magazine queries ― farmers

Produced by a Tolley Owner-Managed Businesses expert
Owner-Managed Businesses
Guidance
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The following guidance note provides details of queries raised on farmers and farming income in the last few years in the Readers’ Forum section in Taxation magazine with a link to the full replies. It should be noted that the response to the queries is at a point in time and all relevant legislation should be confirmed as being currently applicable.

Farmland passed on during mediation

Details of the query as copied from Taxation magazine

My client is a sole trader farmer. One of his adult sons has been actively assisting his father, on a full time basis, essentially from his teenage years right through to the present time, when he is middle aged. The son has worked for very low recompense, save for an assurance that one day, he would become the owner of the farming business. In recent years, this father son relationship has soured, due to (among other things) the father's reluctance to 'sign over' any of the farmlands to his son. In consequence, the son took a proprietary estoppel law case and eventually

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