no they just own the land as a tax free asset basically. in the UK farmers don't pay inheritance tax, so just buy a fuck load of land before you die, claim you're a farmer now, and pass that on
Literally just zero income, as in, no sales were made.
A not for profit farm can generate income through some type of activity but isn't required or expected to make more in income that is needed to cover the bills.
So is it like smaller not for profit farmers or people who aren't farming at all?
no they just own the land as a tax free asset basically. in the UK farmers don't pay inheritance tax, so just buy a fuck load of land before you die, claim you're a farmer now, and pass that on
Literally just zero income, as in, no sales were made.
A not for profit farm can generate income through some type of activity but isn't required or expected to make more in income that is needed to cover the bills.