I have a tenant farmer who has been given the option to receive the farmhouse, all the farm buildings and around 20% of the land farmed (with no cash outgoings) in exchange for relinquishing the tenancy of the whole farm. Are there any compensation issues here and can he rollover the gain/claim holdover relief on gifting shares in the newly acquired property to other members of the family partnership?
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AHA tenancy, presumably. Compensation? Do you mean from the tenancy owner to the partnership? If not please clarify.
Rollover - not on a strict reading of the law but if ESC D25 still exists I think that does it for you.
Holdover - yes of course.