Commentary

I1.547 Agricultural relief

IHT, trusts and estates

I1.547 Agricultural relief

I1.547 Agricultural relief

This applies to agricultural land and pasture in the UK, Channel Islands or Isle of Man, or (with effect from 23 April 2003) in the European Economic Area, including houses, cottages and buildings appropriate to it, ancillary woodlands and intensive livestock rearing buildings, and stud farms1 (see I7.305). It can also apply to shares in controlled companies holding such land2 (see I7.331). The rate of relief is 100% for property where there is vacant possession or it can be obtained within twelve months, or there is a tenancy which began after 31 August 1995, and otherwise 50%,

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