I12.603 Tenancies

I12.603 Tenancies

Prior to the improvements to the reliefs for agricultural property the question whether or not the land owning farmer should structure his business by granting a tenancy in favour of a family farming partnership was largely neutral from an IHT perspective, with relief at only 50% whether the land was tenanted or farmed in hand.

With the availability of agricultural property relief at 100% on farmland occupied by the transferor for farming purposes, tax considerations militated against operating via a tenancy (although there may have been countervailing family and business factors which weighed in favour of granting a tenancy).

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