Inheritance Tax Act 1984, ss.103(3) & 105(1) & (3) – Business Property Relief – Lettings for agistment – Whether a business – By whom owned – Whether consisting of making or holding of investments
On appeal from SpC [2008] UKSPC 00678

Inheritance Tax – Agricultural property relief – Market value versus agriclutural value – Relationship of effect on value of S.115(3) covenant to that of Agricultural Occupancy Condition – Place in the market of ‘lifestyle’ farmers

Inheritance Tax Act 1984, ss.103(3) & 105(1) & (3) – Business Property Relief – Lettings for agistment – Whether a business – By whom owned – Whether consisting of making or holding of investments
See also CA [2009] NICA 12

Inheritance Tax Act 1984, Ss.115(2) & 117 – Agricultural property relief – Small country estate with main house, other let houses, arable land and farm outbuildings – Whether main house a farmhouse – Whether ‘of a character appropriate to the property’ – Whether occupied for the purposes of agriculture – Whether farm outbuildings occupied for the purposes of agriculture

Inheritance Tax Act 1984, S.115 – Agricultural property relief – Intensive livestock buildings – Whether occupied with agricultural land or pasture – Requirements for occupation to be ancillary to occupation of agricultural land or pasture

INHERITANCE TAX – agricultural property relief – house and barn owned by the deceased – house and barn not agricultural land – property for the purposes of IHTA 1984 s115(2) restricted to agricultural land within the estate of the deceased – house not a farmhouse – barn was of a character appropriate to the property – barn owned and occupied for the relevant period – house not entitled to agricultural relief – barn entitled to agricultural relief – IHTA 1984 s115(2), s116 and s 117

IHT – Agricultural Property Relief – Freehold house which was owned and occupied by the deceased – agreed that it was a farmhouse – whether it was of a character appropriate to the property – yes – IHTA 1984 s.115 (2)

Inheritance Tax  – business property relief – s.105 Inheritance Tax Act 1984 – livery business – whether wholly or mainly consisting of the making or holding of investments – whether FTT applied an incorrect test – whether FTT’s conclusion disclosed an error of law – appeal dismissed

Inheritance Tax – Deceased granted reversionary sub-lease to sons out of her head leasehold interest – licence to sub-let by head landlord to deceased – whether property disposed of by way of gift was subject to reservation under s.102 FA 1986

Agricultural property relief from Inheritance Tax – Farmhouse – Whether nexus between house and land is ownership and occupation or only occupation

Inheritance Tax Act 1984, ss.104-107 – Business Property Relief – Business in succession to former enterprise – Single business or two separate businesses – Whether a business of making or holding investments – Inheritance tax – Replacement property – Exempt transfers and relief
– Deceased having liferent interest in family estate – Deceased declared to be fee simple proprietor of the estate
– Deceased entering into partnership with intended successor – Whether deceaseds interest in partnership, which subsisted immediately before his death, replaced previous business carried on by deceased – Whether business excluded from business property relief as consisting mainly of making or holding investments
Inheritance Tax 1984, ss 105(1), (3), 107.

Inheritance Tax Act 1984, ss.115(2) & 117(b) – Agricultural property relief – Deceased obliged by ill-health to live off-farm – Whether occupation nevertheless continued to the date of death

Inheritance Tax Act 1984, Part V, Chapter I – Business property relief – Indicia of business – Business of making or holding investments – Holiday accommodation – Whether activity of operation was sufficient not to be considered ‘investment’.

INHERITANCE TAX – Agricultural property relief – Business property relief – whether dwelling was a farmhouse – nexus between farmhouse and land – agricultural purposes – whether business wholly or mainly consisted of holding investments – appeal allowed

Inheritance Tax – Business Property Relief – Land Use – Livery Yard – Business ‘wholly or mainly’ that of ‘holding investments’

INHERITANCE TAX – whether appeal automatically struck out – whether Appellant should be permitted to give oral evidence – Appellant’s lifetime transfers to a settlement – furnished holiday letting business – whether relevant business property – whether business consisted mainly of the making and/or holding of investments – yes – appeal dismissed

INHERITANCE TAX –Exempt transfer and relief- Agricultural property relief- farmhouse whether ‘character appropriate’ to 16.29 acres of agricultural land with adjacent agricultural buildings – Yes – farmed by deceased up to the date of his death – Inheritance Tax Act 1984 section 115 (2) relief granted

Inheritance Tax Act 1984, ss.104-107 – Business Property Relief – Business in succession to former enterprise – Whether a business of making or holding investments

Inheritance Tax – Mutual wills – Nil Rate Band Discretionary Trust – Joint tenancy – Grounds on which severance may be deemed to have taken place – Whether evidence supported an act of severance – Severance by “appropriate mutual conduct”