CPD Training Seminars at 23 venues across the UK and In-House

CURRENT ISSUES OF INVESTING IN AND MANAGING RURAL PROPERTY

A SERIES OF ONE DAY REGIONAL SEMINARS
FOR RURAL PRACTICE CHARTERED SURVEYORS

The economic recession has had adverse effects on residential and most commercial property but agricultural land has bucked this trend and generally has increased in value in recent years. The demand for agricultural land both let and vacant continues to be strong.  Whilst some of this buoyant sentiment may because of agricultural land being seen as a safe home for capital in uncertain times which has resulted in the establishment of a number of new funds to invest in agriculture, some of which seek to be so structured as to allow the investor to benefit from agricultural property relief. Agricultural incomes have generally defied the economic downturn and this has been reflected in recent rent reviews.

This buoyant market may be seen as an opportunity for existing owners of land to review their options, which can often be a complex decision requiring sound advice to take account of all the factors involved in any particular situation. It is always important that it is remembered that investment in agricultural property should be viewed as a long term investment.

As the sources of income from rural estates become more diverse this may lead to issues in respect of Inheritance Tax. Although the gross income on rural estates has risen quite steeply in recent years the operating costs have also risen sharply with higher standards demanded in residential property and increased regulatory requirements.

We now live in a time of greater volatility in commodity prices and there has to some uncertainty as to how any changes to the support systems for agriculture will affect UK farmers. Agricultural rent reviews have to be carried out in the context of this volatile income to tenants.

Although the number of rent reviews which end up in arbitration is very small it is always important to have in mind the legal formula for calculating the rent properly payable. In these circumstances it is often useful to step back and consider the underlying economic principles which govern the payment of rent especially as many tenancies may now comprise elements such as leisure, residential and commercial rents.

Programme

9:45am       Registration and Coffee      

10:00am       Seminar Begins
             
Introduction 
             
THE PRICE OF AGRICULTURAL LAND
Recent rises in price      
Long term values      
Renewed interest in investment
Issues for existing owners

THE WIDENING SOURCES OF RURAL INCOME
Impact on Estate Income
Impact on Rents

THE CHANGING ECONOMICS OF AGRICULTURAL PROPERTY
                           
11:30am       Coffee

THE AGRICULTURAL ECONOMIC CLIMATE
The Scale of the Changes in Farm Incomes
Possible future of Single Farm Payment
Changing Patterns of Support Payments

TAXATION IMPLICATIONS OF CHANGE      

1:00pm       Lunch                    

2:00pm       Afternoon Session Commences

THE FUNDAMENTALS OF RENT
The Landlord’s Aspirations
The Tenant’s Aspirations
The Factors that Determine the Final Settlement
                    
PROCEDURES FOR RENT REVIEWS
Regulatory Reform (Agricultural Tenancies) (England and Wales) Order 2006
Timescales for Serving Notices
      
THE RENT PROPERLY PAYABLE
The Rent Formulas under the 1986 Act & 1995 Act
Subsidies Received
Non-Agricultural Income
Value of the Farmhouse
Productive Capacity & Related Earning Capacity

3:30pm        Tea

JUSTIFICATION OF RENTS
Comparable Evidence
Budgets

5:00pm       Close

(The timings shown are only indicative and may vary depending on the level of discussion at each venue)

*The Newark Seminar will begin at 9:30am, and run 30 minutes in advance to this programme

VENUES AND DATES

Autumn 2010

*The Newark Seminar will begin at 9:30am, and run 30 minutes in advance to the programme
A SEMINAR CAN BE READILY AND PROFITABLY APPLIED

Each seminar is conducted in a friendly and informal way. Each is a mixture of lectures and discussion designed not to be tedious or intimidating, and to give delegates the maximum benefit. Full seminar documentation; a useful reference book, will be provided to those attending the seminar

CONTINUING PROFESSIONAL DEVELOPMENT

Each of the seminars can provide up to six hours towards CPD.

FEE

The fee for the seminar is £120.00 plus £21.00 VAT per delegate, to include refreshments, lunch and full seminar documentations.

Discounts

Professional Development (UK) Limited. Registered in England No. 2918315
Tel: (01502) 575633 or E-mail: info@pdl-training.com