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HMRC internal manual

Inheritance Tax Manual

Agricultural property: Fishing and sporting rights

The value of fishing rights does not form part of the agricultural value of agricultural land. Accordingly agricultural relief is not due. However, fishing rights may qualify for business relief (IHTM26001). The circumstances in which other sporting rights may be treated as agricultural property will normally be considered by the District Valuer (DV) (IHTM23002). You should draw the DV’s attention to existence of any sporting rights against on which agricultural relief has been deducted. The exploitation of sporting rights such as commercial shoots may qualify for business relief if agricultural relief does not apply