Martin O’Sullivan: What should you do with your house when you transfer the family farm?
Do you stay in your home or hand that on too? It’s not a simple decision, and there are many tax implications to consider
Dilemmas: There is no ‘one size fits all’ when deciding whether to retain ownership of a house when transferring the family farm. Photo: Deposit
Farmers considering handing over their farms are often faced with the dilemma of what to do with their house.
Do they hold on to it, or do they transfer it subject to retaining a right or residence?
