Commentary

I8.361 Valuation of land generally

IHT, trusts and estates

I8.361 Valuation of land generally

Land

I8.361 Valuation of land generally

Where real or leasehold property situated in the UK has to be valued for IHT purposes, all matters concerning the valuation and the extent of any agricultural value are referred by HMRC Inheritance Tax to the Valuation Office Agency1, which will usually negotiate directly with the taxpayer. Where the land is farmland or it does not have an address, the taxpayer should send a plan clearly showing boundaries and/or an Ordnance Survey reference to enable the Valuation Office Agency to identify the land2. When the account is delivered by the taxpayer to HMRC Inheritance Tax a provisional

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