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Just what is a farmhouse? recent developments in agricultural property relief from inheritance tax and their implications for professional valuation practice [electronic resource]

By: Contributor(s): Language: English Publication details: London RICS 2007Subject(s): LOC classification:
  • 336.2250942 $2 21
Online resources: Summary: Discusses the boundaries of Agricultural Property Relief (APR) from Inheritance Tax (IHT), with particular reference to the decisions from the Special Commissioners and Lands Tribunal in the Antrobus and McKenna cases. Analyses these cases in the context of professional practice in the fields of client advice and valuation. Finds that professional instructions for Inheritance Tax valuations are failing to recognise the rigorous requirements which must be satisfied if a claim for APR is to succeed. Offers guidance on a four stage test to determine the appropriate level of APR for a farmhouse and farm buildings. Explores the implications of this for the professional relationship between valuers, executors and their solicitors.
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Item type Current library Call number Copy number Status Barcode
Book Virtual Online ONLINE PUBLICATION (Browse shelf(Opens below)) 1 Available 140343-1001

Discusses the boundaries of Agricultural Property Relief (APR) from Inheritance Tax (IHT), with particular reference to the decisions from the Special Commissioners and Lands Tribunal in the Antrobus and McKenna cases. Analyses these cases in the context of professional practice in the fields of client advice and valuation. Finds that professional instructions for Inheritance Tax valuations are failing to recognise the rigorous requirements which must be satisfied if a claim for APR is to succeed. Offers guidance on a four stage test to determine the appropriate level of APR for a farmhouse and farm buildings. Explores the implications of this for the professional relationship between valuers, executors and their solicitors.

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