UK:
Agricultural Tenancy Reforms – To Help Tenants But Not Landowners?
09 August 2019
Hewitsons LLP
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There is a consultation seeking views on options for reform of
agricultural tenancy law.
The plans include:
- Enabling tenants with Agricultural
Holdings Act (AHA) agreements who have no natural successor to have
the option to assign their tenancy to a new, unrelated tenant
farmer. This would provide an exit route to older tenants seeking
to retire by releasing the value of their tenancy. It would also
provide a route for new tenants to enter the sector.
- Widening the pool of relatives that
qualify to succeed on the tenancy to include nieces, nephews and
grandchildren.
The reforms would also encourage landlords to grant longer farm
business tenancies of ten years of more, Unfortunately for
landowners, this might be by restricting entitlement to
Agricultural Property Relief on shorter lets. The consultation will
end on 2 July 2019. You can contribute your views by following this
link.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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