Court of Appeal.

Judgment delivered 14 March 1984.

Capital transfer tax – Notional transfer of assets on death – Relief for business property – Deceased life tenant of settled land – Land farmed by deceased – Whether land relevant business property – Whether land an asset used in business – Finance Act 1975, sec. 21-23; Sch. 4, para. 14(1)(2); Sch. 5, para. 3(1)Finance Act 1976, Sch. 10, para. 2(1), 3(1), 6Finance Act 1981, sec. 100(3).

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