Beware of tax pitfalls when hosting on-farm music festivals
Making farms and estates available for summer events can be a lucrative source of additional income.
But there are a number of potential tax pitfalls to beware of when festivals and concerts, outdoor cinema or other ticketed on-farm events on farmland.
Saffrey Champness has warned farmers to be aware of the tax implications.
The world's most famous on-farm festival, Glastonbury, took place last month.
But there are opportunities at all different scales for farmers and landowners.
On-farm cinema events are one area taking off, with other ventures including musical, cultural and sporting events from large festivals taking place over a number of days, to the smaller ‘pop-up' events, which are available to attend for a limited period in one day.
Income might include that generated from admission tickets, car parking and camping and might be based on numerous different variable elements.
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