Gifts: agricultural property: liaison with Specialist PT - IHT (formerly CAR - IHT and before that the Capital Taxes Office)
If you are dealing with a claim to hold-over relief and it is claimed that the asset would qualify for Inheritance Tax agricultural relief then you need to confirm this with CAR - IHT (formerly the Capital Taxes Office). You should ask them to confirm that a reduction of value has been or would have been made if there was a chargeable transfer on the disposal.
You should provide full particulars including
- a description of the property transferred
the names and addresses of
- the donor
- the donor’s agent
- the donee
- the date of transfer
- the donor’s interest in the property
- details of any consideration etc.
You will find the addresses of Specialist PT - IHT in CG67055.