Commentary

I7.353 APR and relevant property trusts

IHT, trusts and estates

I7.353 APR and relevant property trusts

I7.353 APR and relevant property trusts

Agricultural property relief (APR) operates as a reduction in the value transferred by a transfer of value1. For the meaning of transfer of value see I3.102 and I3.111 However, for the purposes of APR references to a transfer of value include references to occasions of charge on settled property not subject to a qualifying interest in possession2. References to the value transferred are treated as references to the amount on which IHT is chargeable and references to the transferor include references to the trustees3.

For further information on QIIPs, generally, see Division I5.2. For

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