Commentary

I7.401 IHT treatment of non-agricultural woodlands—introduction

IHT, trusts and estates

I7.401 IHT treatment of non-agricultural woodlands—introduction

Division I7.4     Non-agricultural woodlands

Division I7.4 updated by
Malcolm Gunn, CTA

For updates affecting this Division please see Part I0 Updates

IHT treatment of non-agricultural woodlands

I7.401 IHT treatment of non-agricultural woodlands—introduction

An election can be made which enables the IHT chargeable on death in respect of growing timber and underwood which does not qualify for agricultural relief1 to be deferred until sale. The relief2 is only available on death and does not extend to the IHT in respect of the land upon which the trees are growing. The relief is given by leaving the value of the timber out of account

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