Commentary

I7.332 Value attributable to agricultural property

IHT, trusts and estates

I7.332 Value attributable to agricultural property

I7.332 Value attributable to agricultural property

There is no guidance in the legislation as to how the value of the shares should be apportioned between agricultural value and non-agricultural value for the purpose of the relief. Share valuation takes account of both earnings and assets, the relative importance of the two factors depending upon the circumstances.

For information on valuing unquoted shares generally see I8.311–I8.321.

Unlike the old relief, there is no requirement that the company must be wholly or mainly engaged in farming. It is therefore possible to envisage a situation where a company has:

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