My mother is thinking of selling her farm, which has been leased for the previous eleven years. Is she liable for capital gains tax? By the way she is over seventy.
Was the land leased under the Scheme for Early Retirement from Farming ? In that circumstance, I think Retirement Relief, which previously did not apply to leased farmland, may now apply to qualifying sales . see page 2 [broken link removed]
Scratch that, just noticed the disposal has to be within the family. So Probably not of use anyway in this case.