I have a limited agricultural company planning to buy a parcel of agricultural land for approx. £330k.
The land has a few sheds, lean to's and a horse training centre on it currently. On successful purchase they would apply for planning permission to change it's use to workshops and it's possible rental income may arise from this if successful.
Could anybody advise how the company would treat this purchase in the accounts and if any allowances would be applicable for tax purposes.