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Agricultural property relief (APR) reduces the value of a transfer for IHT purposes on both lifetime and death transfers. In order to qualify for relief, the property must fall within the definition of...
Where the value of the original transfer is reduced by business or agricultural property relief, the market value at the lower value date is reduced by the same percentage before it is deducted...
IHT will be chargeable on the amount apportioned to participators as if each had made a net transfer of value of that same amount. This amount will then need to be grossed up at the applicable...
If a trust property is occupied by a beneficiary as a main residence, the trustees can claim principal private residence relief (PPR) (¶51930+) on its disposal. However, PPR is not available...
On each occasion of a 10-year charge, relevant property is taxed at a maximum rate of 6%. The rate is calculated as 30% of the “effective rate”, which is itself determined by performing an...
Business property relief (BPR) (¶59050+) and agricultural property relief (APR) (¶59295+) reduce the value transferred. For chargeable trusts, there are two ways in which the amount of tax...
The usual IHT reliefs are available, including business property relief (¶59050+) and agricultural property relief (¶59295+), where the life tenant fulfilled the relevant conditions.
IHT reliefsBusiness property relief (BPR)Amount of relief for:2018/192019/202020/21An interest in a business100%100%100%A farm tenancy held personally100%100%100%In shares in listed company giving control...