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Legal Terms - Agricultural property relief
An exemption from inheritance tax is granted for the transfer of agricultural land and structures, provided that specific qualifying conditions are satisfied.
A farmhouse may be eligible for agricultural property relief. The relief provided is equal to the entire agricultural value, with the exception of land that is leased before to September 1995.
The exemption exempts the agricultural value of farmland from inheritance tax, but any development value of the land is subject to IHT.
An exemption from inheritance tax is granted for the transfer of agricultural land and structures, provided that specific qualifying conditions are satisfied.
A farmhouse may be eligible for agricultural property relief. The relief provided is equal to the entire agricultural value, with the exception of land that is leased before to September 1995.
The exemption exempts the agricultural value of farmland from inheritance tax, but any development value of the land is subject to IHT.
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