Buying land

[bmwmike]

Hi

I saw a post recently about someone who bought a paddock and put it in their ISA and it's got me thinking (always dangerous hehe).

Something like this..

http://www.uklandandfarms.co.uk/rural-property-for...

I love the idea of buying 5 acres or so at 30k ish purely to leave as wild land / forest and eventually for the kids.

I presume there are costs like public liability insurance. Upkeep on boundaries etc?

Anyone know a good website to learn about this? I have ruled out BTL etc. Just like the idea of owning a chunk of land. If it can be put to develop an income all the better but that's not really the intent but reducing costs would be good.

Cheers
Mike

[Jockman]

What a beautiful piece of land !!!

I drive nearby on my way to South Wales and it's amazing how large Powys actually is.

Tax implications - reliefs not automatic but straightforward to obtain.

http://www.woodlands.co.uk/blog/woodland-activitie...

[PurpleMoonlight]

I cannot see that land is a permissible investment for an ISA.

How was this achieved?

[Jockman]

PurpleMoonlight said:

I cannot see that land is a permissible investment for an ISA.

How was this achieved?

SIPP maybe?

[bmwmike]

Sorry, yes it was a SIPP.

[TooLateForAName]

I think that you need to have some sort of commercial intent if you want it to be excluded from inheritance tax. You dont actually have to make money, but you have to show a commercial/management intent.

So planting broadleaf trees etc should do the job, whereas leaving it wild might not.

There is also the issue of what will happen regarding grants for landowners after brexit

[Condi]

Land has been a brilliant investment for the last few years, but it is only supported on HMG tax policies. If it wasnt excluded from IHT for example, or Corbyn got in and introduced his 'land tax' then the price would plummet. The 'value' of land in terms of its return has no relevance (at the moment) to the price it sells for.