Commentary

I12.802 Business and agricultural property relief

IHT, trusts and estates

I12.802 Business and agricultural property relief

I12.802 Business and agricultural property relief

Care should be taken where the property comprised in a distribution before the first ten-year charges qualifies for 50% business property or agricultural property relief. This is because the calculation of the rate of tax on the exit charge does not (in effect) take account of the availability of the relief; in contrast, the relief would be taken into account in computing the ten year charge. In the example considered at I12.801 a small charge to IHT would arise if the £325,000 initially settled was net of one of the reliefs; the relief

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