Practical pointer: valuing land let to partnership
Practical pointer: valuing land let to partnership
- 1992
- Farm Tax Brief 7(1) December 1991/ January 1992, 5(1) .
Challenges the method used by the Inland Revenue to value freehold land let to a farm partnership. A recent Lands Tribunal case, Fox`s Executor v IRC, tested the principle, but found in favour of the plaintiff. The article notes problems which may arise from the decision and announces the journal`s intention to follow the case through the appeal stage.
PROPERTY-LANDLORD AND TENANT-TENANCIES-AGRICULTURAL TENANCIES
BUSINESS PROPERTY RELIEFS
CAPITAL TRANSFER TAX
FARMING PARTNERSHIP
FARMLAND
FOXS EXECUTORS V INLAND REVENUE COMMISSIONERS
PARTNERSHIP SHARE
VACANT POSSESSION VALUE
Valuation
VALUE
Challenges the method used by the Inland Revenue to value freehold land let to a farm partnership. A recent Lands Tribunal case, Fox`s Executor v IRC, tested the principle, but found in favour of the plaintiff. The article notes problems which may arise from the decision and announces the journal`s intention to follow the case through the appeal stage.
PROPERTY-LANDLORD AND TENANT-TENANCIES-AGRICULTURAL TENANCIES
BUSINESS PROPERTY RELIEFS
CAPITAL TRANSFER TAX
FARMING PARTNERSHIP
FARMLAND
FOXS EXECUTORS V INLAND REVENUE COMMISSIONERS
PARTNERSHIP SHARE
VACANT POSSESSION VALUE
Valuation
VALUE