There are several options when it comes to the Bax tone poems, including recordings from Boult, Handley, Lloyd-Jones and Thomson, and all of them are at least very good. Boult's pioneering Lyrita disc is a long-time favorite recorded in excellent stereo sound (Boult conducts Bax), and I would recommend it as a very solid choice. Boult authoritatively covers what are, in my view, the strongest of Bax's works in this category: the first of the three Northern Ballads, Mediterranean, The Garden of Fand, Tintagel, and November Woods.
Vernon Handley, a Baxian of great distinction as established by his top notch cycle of the symphonies, offers all three of the Northern Ballads, Into the Twilight, The Happy Forest, Red Autumn, Nympholept, In the Faery Hills, November Woods, The Garden of Fand and Sinfonietta on two Chandos cd's (Arnold Bax: Tone Poems and Bax: Tone Poems, Volume 2). These discs offer fine performances by the BBC Philharmonic, and are considered the latest word in Bax given the conductor's credentials and the 2005-2007 recording dates.
Then we have this disc of Bryden Thomson's recordings which date from 1982 and 1983. While Thomson's recordings of the symphonies came on the heels of several classic Lyrita recordings from the likes of Norman Del, Myer Fredman and Raymond Leppard, he nevertheless proved to be a Baxian of great distinction who most effectively communicated the atmospheric vs the dramatic in Bax's music. His reading of the Third symphony is representative in this respect. For this reason, his recordings of the tone poems, which are essentially atmospheric pieces, are among the best I've heard. He presents the brooding and mysterious elements in these wonderful scores in a way like no other, all recorded in excellent sound.
If I were to recommend a starting place for those who are new to the symphonic music of Arnold Bax, I would pick this disc and/or Thomson's recording of the Third symphony (Symphony 3 / Dance of Wild Irravel).