Charles Holt (Lincoln)

This Scheme has been well-heralded and has been announced very much as predicted.  Many of those thinking of taking advantage of it will already have started thinking about the pluses and minuses of retiring, or at least semi-retiring.

The Scheme is also acting as a catalyst to get some people thinking hard about their future, and exactly what they want out of their farming life in future.  What do their family want to do?  What enterprises will opting for the Scheme shut down?  What opportunities does it open up?

In particular there may be a window of an excellent opportunity for tenant farmers.  Depending on the nature of their tenancy, and especially if they are in a 1986 Act three-generation tenancy, this could be a chance to offer their landlord a deal for them to quit, and/or to buy all or part of the farm.

The cash lump sum could help prime the pump to buy the farm, maybe with the aid of bank debt, and possibly with a sale of a part of the farm or buildings to make it viable.

It may not work, and the landlord may not be interested, but opening up such discussions could lead to a conclusion that you really were not expecting – hopefully a good one.  Remember, the ball is in the applicant’s court on this one.  There is no compulsion to go down this road.

To analyse your options and help facilitate this discussion, contact Charles at charlesholt@fcgagric.com or your local FCG Office.