@MrJamesMay Presumably, it's based on the value of the underlying asset. Sure, it produces 40k GBP of income, but the assets (i.e., the land value) is also a contributor to the valuation.
This is unique and this kind of logic wouldn't apply to many other businesses.
@ZacksJerryRig This is not the real issue.
The problem is the fact that business owners can take out a loan with their stock as collateral and pay zero tax.
If that loophole is not addressed, then salaried people will be bled dry & more and more folks will renounce citizenship.