Valuing joint interests of land for IHT purposes
Valuing joint interests of land for IHT purposes
- 2004
- Farm Tax Brief 19(6) July 2004, 1-3(3) .
Due to increased house prices, the value of a deceased's share of the family home has become an important element in the calculation of the Inheritance Tax liability. Although farming families are generally covered by the Agricultural Property Relief, there are occasions when the non-agricultural value of a partner's share needs to be considered. Discusses in particular the value of a husband's share where he dies first, looking at statutory law and case law.
HOUSE PRICES
INHERITANCE TAX
AGRICULTURAL PROPERTY RELIEFS
HOUSE VALUES
JOINT TENANTS
Due to increased house prices, the value of a deceased's share of the family home has become an important element in the calculation of the Inheritance Tax liability. Although farming families are generally covered by the Agricultural Property Relief, there are occasions when the non-agricultural value of a partner's share needs to be considered. Discusses in particular the value of a husband's share where he dies first, looking at statutory law and case law.
HOUSE PRICES
INHERITANCE TAX
AGRICULTURAL PROPERTY RELIEFS
HOUSE VALUES
JOINT TENANTS