Agricultural tenancies
Series: Taxation ; 147(3805) 3 May 2001, 116-117(2)Publication details: 2001Subject(s): Summary: Confirms that both the freehold interest and tenancy will have a value for inheritance tax and capital gains tax in the part disposal on farmland subject to an agricultural tenancy. Discusses the "Baird" method of valuation, for use where both parties can claim to be bona fide special purchasers of the other's interest, and the "Walton" method, which should be adopted where neither party can be shown to be willing to purchase the other's interest, but notes that different approaches can be adopted in respect of the two interests. Observes that it can pay for family members not to act as connected persons in such circumstances.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | X113026 (Browse shelf(Opens below)) | 1 | Available | 113026-1001 |
Confirms that both the freehold interest and tenancy will have a value for inheritance tax and capital gains tax in the part disposal on farmland subject to an agricultural tenancy. Discusses the "Baird" method of valuation, for use where both parties can claim to be bona fide special purchasers of the other's interest, and the "Walton" method, which should be adopted where neither party can be shown to be willing to purchase the other's interest, but notes that different approaches can be adopted in respect of the two interests. Observes that it can pay for family members not to act as connected persons in such circumstances.