Hi folks,
Been lurking on the forum for a couple of years now and we're finally in a position to make an offer on a smallholding near us. The place is made up of a farmhouse, outbuildings and c.20ac. Not sure how HMRC will treat it - is it a 'mixed' use property (and subject to the lower tax band) or would it be residential and subject to the higher band and therefore not sure how much to set aside pre purchase. The difference is pretty significant and may affect our ability to purchase.
Does anyone have any experience of buying a smallholding in Scotland since April 2015 and if so how was it treated for tax purchases?
Any help much appreciated!