000			01491cam a2200253 4500
001			ABS64072
008			000000n2001 000 0 eng u
035			_a(Sirsi) u112704
245			_aDiversification and the loss of agricultural property relief
260			_c2001
490			_aFarm Tax Brief _v16(4) April 2001, 22-23(2)
520			_aConsiders how attempts at farm diversification, such as adapting farmhouses for holiday lettings or business use could result in the loss of Agricultural Property Relief, as set out in the Inheritance Tax Act 1984. Highlights that Business Property Relief is an option for farmers directly involved in certain types of non-agricultural business, but this may only be available at a 50% rate and not all ventures would qualify. Discusses the case of "Special Commissioners in Farmer v IRC" {1999] SPC 216 where the various activities on an agricultural estate which included the letting of cottages and former farm buildings, were run as a single business and thus qualified for Business Property Relief. Copies of decision available from Finance and Tax Tribunals 020 7612 9656.
590			_aABS
650			_aINHERITANCE TAX
650			_aFARMHOUSES
650			_aHOLIDAY LETTINGS
650			_aINHERITANCE TAX ACT 1984
650			_aBUSINESS PROPERTY RELIEFS
650			_aAGRICULTURAL PROPERTY RELIEFS
650			_aSPECIAL COMMISSIONERS IN FARMER V IRC
650			_aFARM DIVERSIFICATION
690			_aTAXATION
942			_n0
999			_c67095 _d67095