ABSTRACT
The rationale for farm diversification has been the focus of much academic study, which occasionally seems to strain rather too hard to force what appears to be a simple business decision into a complex socio-economic theory. A valuer may be required to value a farm with diversified assets for all the usual range of reasons, from matrimonial dispute to security for a loan, but for those specialising in diversification the most common occasion may be where it forms part of a deceased’s estate for Inheritance Tax purposes. Business valuations are a distinct sphere of valuation activity and the RICS is particularly strict in terms of the supervision, qualification, experience and technical competence of those holding themselves out to be “Business Valuers”. However, a number of cases in the horticultural and agricultural sectors coupled with increased diversification activity, means that this will be more of an issue for current and future generations of valuers.
