000			01269cam a2200241 4500
001			ABS66480
008			030213n2003 000 0 eng u
035			_a(Sirsi) u121349
245			_aIHT reliefs and options
260			_c2003
490			_aFarm Tax Brief _v18(1) February 2003, 1-3(3)
520			_aExamines inheritance tax (IHT) agricultural and business property relief which may be lost if the property is subject to an 'immediate binding contract for sale' under the Inheritance Tax Act 1984 ss113 and 124. However partnership agreements often contain provisions or give the option for the retiring or deceased partner to 'sell' their interest in the partnership to the surviving partner. Such options are not binding contracts for sale but by avoiding IHT it could lead to problems with gapital gains tax (CGT). Considers the issues raised by "Mansworth v Jelley" (CA [2002] STC 1013) regarding IHT and CGT.
590			_aABS
650			_aBUSINESS PROPERTY RELIEFS
650			_aINHERITANCE TAX RELIEFS
650			_aINHERITANCE TAX ACT 1984 S113
650			_aINHERITANCE TAX ACT 1984 S124
650			_aMANSWORTH V JELLEY
650			_aCAPITAL GAINS TAX ACT 1992
650			_aBUSINESS PROPERTY RELIEFS
690			_aTAXATION
942			_n0
999			_c72115 _d72115