Rural

Diversification from agriculture to other types of land use is not a new idea but pressure on incomes has forced many rural landowners to diversify in order to survive and for some it has resulted in huge success.

There are many legal issues that accompany such change and it is important for farmers, land owners and their advisors to be aware of them. Seeking professional, legal and accountancy advice is essential from the outset.

One popular form of diversification has been the development of redundant farm buildings for other uses such as holiday homes and business units. Planning needs to be carefully considered and owners must ensure that that schemes are approved by planning before any major investment has been made.

Changes in use of buildings can come with hidden tax and investment traps for those who have not sought specialist advice. It is always helpful to discuss the options with their professional advisors at an early stage.  

Many farmers and land owners have turned to niche markets and this has meant the establishment of farmers markets and farm shops. Specialisation has also arisen in areas such as organic vegetables and traceable meats.

There are many opportunities available for the farming community to enhance other sources of income but they inevitably require time effort, professional advice and a sound business plan.

Renewables

Many farmers and landowners are being approached by renewable energy providers or are considering the sector as part of diversification or supplementary income plans following the introduction of feed-in tariffs in April.

At Stephens Scown we have a team dedicated to the renewables sector.  They have extensive experience of working with farmers, land and property owners and can work with you to get the project off the ground whilst protecting your assets.