A client wants to sell farmland for developement (currently farmed as a sole trader).
I understand that as this is a part disposal of land and because the farming business isn't ceasing ER won't be available at present.
Would there be any issues with setting up a newco and the client then lending the land to the business to farm for a year before gifting say 10% of their shares to a family member and selling the land to a third party? I believe that this meets all of the assets used in a business rule but I was unsure if it would be caught by any anti-avoidance legislation.
Any help or advice would be greatly appreciated.