Agricultural land deals can be complex and our specialist team can help you with specific advice or prepare you for the sale or purchase of agricultural land. Below you will find a check list of the matters to consider when instructing a solicitor with the purchase or sale of agricultural land; however we would recommend getting one of our experts on board from an early stage for a free initial no obligation discussion to ensure you get the outcome you need, at the cost that’s right for you. Please visit our Payment Options page for more details on costs.
- Is funding in place or an offer made in principle? Are funds available at short notice to pay a 10% deposit? Have you considered Stamp Duty Land Tax payable?
- Who is going to live at the property?
- Who is going to farm?
- What kind of farming is to be carried out?
- Are you expecting to acquire milk quotas or entitlements to receive Single Farm Payment?
- Are you expecting to receive the Single Farm Payment in the current year?
- Are you being separately advised as to the tax consequences and trading structures?
- Are you registered for Vat?
Fixtures and Non Fixtures
- What fixtures do you expect to acquire?
- Is there any machinery, ornaments, livestock etc. that you expect to acquire?
- Are you aware of any environmental matters issues, woodland schemes etc.?
- Are you expecting to take over existing employees?
- Are you expecting to pay any additional sums to the seller should you obtain any new planning permission for all or part of the property?
- Have you inspected the site, checked for footpaths, and other evidence of use by third parties?
- What way does the land run – is surface water likely to run on adjoining land or into ditches?
Selling Agricultural Land
The following is a check list of matters to consider when selling agricultural land and instructing solicitors:
- Is the price sufficient to pay off any mortgage? Are funds in place if not?
- Who is in actual occupation?
- Are there any tenancy agreements in place?
- Who farms the land?
- What type of farming is carried out?
- Do you intend to sell milk quotas or entitlements to receive the Single Farm Payment whether to the buyer or a third party?
- How much if any purchase price is to be attributed to quotas or entitlements if being sold to the buyer?
- Do you intend to receive the Single Farm Payment for the current year?
- Are you obtaining separate tax advice on the sale?
- Do you need to dispose of the property in the current or next tax year?
- Are you selling a business as a going concern?
- Do you need to charge Vat?
Fixtures and Non Fixtures
- Are there any fixtures you intend to remove?
- Is all machinery and equipment fully owned by you?
- Do you intend to sell items not forming part of the land i.e. stock separately, and if so who will value?
- Are you aware of any pollution or contamination or infestation?
- Are there any environmental schemes or grants which affect or benefit the property?
- Is an asbestos survey / Energy Performance Certificate required?
- Do you have any employees and is it intended that the buyer takes them on?
- Do you wish to reserve the right to receive any share in future values following the grant of planning permission and if so for what period?
See also our Agricultural fact sheet (PDF).