- First, it is only based on APR claims and takes no account of the farm’s machinery, livestock, working capital or other business assets, including diversified business activities supporting the farm and the rural economy. That figure misses half the picture and so understates the effects of the change.
- Second, it is not an assessment of farms but of individual ownerships of agricultural land. The average value of £486,000 might generally be just 50 acres but nearer 20 in some areas. Some will be small intense farms or family members’ land used by the family farm, but more will be lifestyle units and stray fields let out for grazing round a house – both likely with wealthier non-farming owners. The data does not record farms when, on DEFRA data, the average cereals farm would need four owners to be out of tax on its farming activity.
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