GSC GraysGSC Grays

Contact our offices

The election result could impact land and farm sales in Northern England

The election result and potential tax shifts could impact land and farm sales in Northern England says Guy Coggrave, Managing Director of GSC Grays.

“The farmland market in the North is currently experiencing increased activity, despite there being a shortage of good-sized arable or commercial farms coming to market. Supply and demand are roughly balanced, but it would not take much to tip this balance, especially with factors like debt reduction and changes in farming policy playing a significant role.

“Potential increases in Capital Gains Tax or the removal of Agricultural Property Relief (APR) could further impact the market. Business Property Relief (BPR) is hoped to remain unchanged, but if APR is modified, landowners must ensure their farms are active enterprises to benefit from this relief. Farmers are increasingly using specialist advice focusing on profitability and sustainability of their farm businesses, which is the essence of the Defra funded Farming Business Advice Service (FBAS) we have delivered to over 1,000 farming enterprises this year.

“The majority of bare land sales in the North are highly localised, often depending on neighbouring interests looking to expand their enterprise while those buyers with an environmental agenda have become more selective, recognising they have sometimes overpaid in the past. Demand for larger arable and more commercial units remains strong.

“The quality and presentation of farms is increasingly important and for those who are considering selling, it is advisable to act promptly to make the most of what currently remains a favourable tax regime, which many commentators anticipate will change this autumn or next spring”.

Article by

Nicolle Hamilton
Marketing & Communications Director

Get to know Nicolle

Latest News