Commentary

I7.341 APR and contracts—the basics

IHT, trusts and estates

I7.341 APR and contracts—the basics

APR and contracts for sale

I7.341 APR and contracts—the basics

If the transferor has entered into a binding contract for the sale of agricultural property (or the shares or securities in a company holding agricultural property which he controls) the relief is forfeited1.

The exceptions are:

  1.  

    •     if the sale of the agricultural property is to a company and is wholly (or mainly) in consideration of shares or securities of the company which will give the transferor control of the company2, or

  2.  

    •     if the sale is of shares or securities of a company controlled by the transferor and the

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