Commentary

I4.127 Non-agricultural woodlands

IHT, trusts and estates

I4.127 Non-agricultural woodlands

I4.127 Non-agricultural woodlands

In determining the value of a person's estate immediately before his death an election may be made for the value of growing timber to be left out of account until such time as the timber is sold or otherwise disposed of1.

When a sale or disposal takes place, IHT is charged in relation to the death on the proceeds of sale or net value of the timber unless there has been another transfer on death in the meantime2. This relief is analysed in detail in Division I7.4, and summarised in I4.262.

If the deceased left a surviving

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