Twice this year two bodies have called for a wider uptake of share farming. In April, Scottish landowners, through their representative organisation, called for a cross-industry task force to look at its development and in July the Country Land and Business Association (CLA) launched an initiative to encourage share farming. According to them if just a quarter of the country’s farmers aged over 65 entered in to a share farming agreement it would allow more than 3,000 entrants to start working the land.
Share farming certainly seems to deliver the dynamism, flexibility and business partnership approach that the agricultural system needs if it is to encourage new entrants into the industry. It should certainly be considered alongside other current tenancy vehicles and the owner should gain from significant tax advantages, for instance Agricultural Property Relief. The advice is to keep the agreement as simple as possible with both parties meeting on regular occasions around the kitchen table.
It certainly deserves to be more popular than it currently is and is a very real option for those with land on their hands.
If it’s an option that appeals to you, Carter Jonas has the expertise to help make it happen.