Grazing license or farming tenancy

[Morganwyn]

Which is best Grazing license or farming tenancy?
Currently ive got 40 acres out on a farming tenancy. I was thinking of switching it over to a grazing license so i can put my animals on it aswell. Who pays for fence repair ect on a grazing license?

i am aware that you can claim bps if its on a grazing license and it also avoids inheritance tax. What would the disadvantages of changing to a grazing license be?

 

[Goweresque]

Under a grazing licence you are supposed to be the active farmer (a requirement often more followed in the breach than the observance). Doing all the work required to provide a crop of grass for your grazier. You would be responsible for fertilising the fields, reseeding if needed, spraying, hedge cutting, fence repair, ditches, the works. Now all of things could be done by contractors, but you'd have to organise and pay for them in order to qualify as the active farmer and gain IHT relief and claim BPS.