Tax Planning for Farm and Land Diversification

Book excerpt: Tax Planning for Farm and Land Diversification, Third Edition examines traditional farming and diversification in the light of tax and planning procedures. It explores the current trend to diversify away from pure food production, and the turn toward alternative land use for the purpose of profitable enterprise. It also covers forms of tax planning that are necessary to cope with the upheavals facing all those in farming communities. This new edition shows you how to protect the high value of farms and landed estates through the process of diversification, and how to handle the rollover of gain, from the sale of a business, into a farm or estate. Every chapter of Tax Planning for Farm and Land Diversification has been updated to take in the numerous changes in agriculture since the previous edition. This is a significant book for all those who want to gain a greater understanding of the implications of diversifying from traditional farmingand the taxes involved in the process. Farm tax advisers, farm accountants, land agents and agricultural colleges will find this a very useful handbook, as will tax advisers, accountants and solicitors who do not have agricultural experience, but who wish to gain a general understanding of farming, diversification, tax planning and the big changes that are facing the agricultural world.