Inheritance Tax Manual

Appendix 14: form VO 1110 - final report

The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

All material amended

Final report

Inheritance tax Taxpayer: *

My case in respect of this matter has now been closed and my report is as follows:-

Part 1(a)

I am of the opinion that the value transferred at the date of transfer is £* i) *As returned *Returned at £ Increase *Decrease £ ii) No comparable figure returned *iii) and the value of qualifying trees and underwood growing on the land has been excluded *iv) and that the value attributable to the relevant business property is £ v) and that the value apportioned to that part of the property which is used exclusively for business purposes is £ vi) and that the value transferred excluding the value of the *insurance policy/right of action is £* *vii) The value has been agreed with * *viii) Unagreed (IR(CT) has asked for the case to be closed)

*Part 1(b)

Circumstances do not warrant further investigation of this matter

*ix) because IR(CT) has asked for the case to be closed. *x) because the value transferred does not exceed the tax threshold. *xi) because 100% Agricultural Relief is available in respect of the whole property and there is no difference between the agricultural value and the market value. *xii) because 100% Business Relief is available in respect of the whole property.

*Part 2

The value of the property transferred is as follows:

Item No Address/Description Agricultural Value £ Open Market Value £
* * * *

*xiii) The values of Items No * have been agreed with *.

Item No Sale Price £ Date of Completion
* * *

*xiv) I am not aware of any changes requiring adjustment of the sale price under s 193(2) IHTA 1984 and Fall-in-Value Relief may be applicable

*Part 4

The parties *have *have not been advised that the papers have been returned to IR(CT).

*xv) They have also been advised that the values attributable to the several items are not necessarily agreed.

  • District Valuer