John P Hagan Solicitors , JPH LAW Solicitors Portadown on FARMING: Tribunal confirms CGT relief may be lost on land let out for grazing
Farmers who let out land for grazing are not entitled to agricultural capital gains tax (CGT) relief unless they retain some occupancy of the land and undertake responsibility for maintaining it, according to a decision of the First-tier Tax Tribunal. HM Revenue & Customs asserted that the grazier had sole occupation of the pasture he had rented as ‘conacre’ (seasonal grazing) and thus relief was not available to the letting farmer. The First-tier Tax Tribunal rejected this however as the court found the landowner occupied and took responsibility for the land but stressed that it too would have denied relief if the landowner had not also used the pasture for his own purposes (Allen v HMRC, 2016 UKFTT 0342 TC).

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