It is possible for the conditions for both business relief and agricultural relief (IHTM24000) to be satisfied in regard to the same property. To prevent double relief, the legislation provides that any part of the value transferred which is reduced by agricultural relief (at whatever rate), (or would be so reduced but for IHTA84/S121 (3)), cannot be reduced by business relief, IHTA84/S114 (1).

As the reliefs do not depend on the taxpayer claiming them, the effect of IHTA84/S114 (1) is that it is not possible for the parties to choose between business and agricultural relief.

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.