Selling farm cottages

Green oak

Member
Arable Farmer
Location
Essex
Thinking about selling to finance. New grain store. 2000t. The cottage needs around 50k spent on it. And none of the family are ever going to live in it. Capital gains is 28% so would be paying around 150k. Is this a good idea?
 

AJ123

Member
Mixed Farmer
Location
South east
Decide first for yourself if it’s good idea then consider the tax consequences and any mitigation if available/appropriate.

I wouldn’t know as not a tax advisor, but if they are farm assets, could you get some sort of relief if reinvesting back into the farm even if only on the plant/ equipment aspect? No doubt depends how they are held currently.

That would strike me as far more socially justifiable than the current system of being able to rollover massive gains from obtaining development consent back into buying more land.
 

Green oak

Member
Arable Farmer
Location
Essex
Is cottage anywhere near the farmyard or your farmland?
If so it's not a good idea to sell it.
Neighbours will make your life hell.

There are people on here who would rather flatten it than invite neighbours closer.

Holiday cottage?
We have two blocks of land. this Cottage is on The main block of land 500 Acres but I live 3 miles from it. On the family farm. The cottage is slightly away from the farmyard.
 

jendan

Member
Thinking about selling to finance. New grain store. 2000t. The cottage needs around 50k spent on it. And none of the family are ever going to live in it. Capital gains is 28% so would be paying around 150k. Is this a good idea?
Its a difficult one.I have something similar,and is going to cost north of £100,000 to do up properly.Currently uninhabitable but would be worth a few bob when fixed. Council Tax on mine is now 300% x Band A,so £4000/year.
 

Tubbylew

Member
Location
Herefordshire
Its a difficult one.I have something similar,and is going to cost north of £100,000 to do up properly.Currently uninhabitable but would be worth a few bob when fixed. Council Tax on mine is now 300% x Band A,so £4000/year.
Can you not move into it somehow whilst its being done up and claim single person discount?
 
Its a difficult one.I have something similar,and is going to cost north of £100,000 to do up properly.Currently uninhabitable but would be worth a few bob when fixed. Council Tax on mine is now 300% x Band A,so £4000/year.
I believe if it’s uninhabitable you don’t have to pay council tax.
I believe it is classed as uninhabitable if it doesn’t have a working toilet.
I have heard of toilets being removed and windows boarded up to get around paying council tax on empty property
 

Tubbylew

Member
Location
Herefordshire
I believe if it’s uninhabitable you don’t have to pay council tax.
I believe it is classed as uninhabitable if it doesn’t have a working toilet.
I have heard of toilets being removed and windows boarded up to get around paying council tax on empty property
Not certain that applies in herefordshire, it doubles after 2yrs, and keeps on climbing every year until it's occupied.

Edit :- https://www.herefordshire.gov.uk/council-tax-1/council-tax-discounts-exemptions/16
 

Swarfmonkey

Member
Location
Hampshire
I believe if it’s uninhabitable you don’t have to pay council tax.
I believe it is classed as uninhabitable if it doesn’t have a working toilet.
I have heard of toilets being removed and windows boarded up to get around paying council tax on empty property
Different local authorities offer different council tax discounts. Some don't offer any at all. Mate of mine up in Berkshire bought a place last year that's in a right state. Half the roof has fallen in, no functioning toilets, needs totally rewiring (and a long list of other things). It's uninhabitable. His council tax reduction on it? 0%. If he'd been living 10 miles down the road one way he'd have got 25% off.
 
Its a difficult one.I have something similar,and is going to cost north of £100,000 to do up properly.Currently uninhabitable but would be worth a few bob when fixed. Council Tax on mine is now 300% x Band A,so £4000/year.
I’ve got something similar too
 

In conversation with a soil health pioneer

  • 256
  • 3


In conversation with a soil health pioneer

Written by Janet Hughes



https://www.buzzsprout.com/1657363/8311877-janet-hughes-and-gabe-brown-the-six-principles-of-soil-health.mp3

In this month's Future Farming podcast, Janet Hughes talks to Gabe Brown.

Gabe has been named one of the twenty-five most influential agricultural leaders in the United States. He farms at...
Top