IHTM24131 - Successive transfers: Application of IHTA84/S121

When a second transfer is made before the time limit for either the occupation (IHTM24070) or ownership (IHTM24100) tests in IHTA84/S117 has expired, agricultural relief will still be available under IHTA84/S121 (1) provided all the following conditions are met:

• IHTA84/S121 (1)(a) - The whole or part of the value transferred by the earlier transfer was eligible for agricultural relief under IHTA84/S115 to 124B (or would have been if such relief had then been operative), and
• IHTA84/S121 (1)(b) - The whole or part of the property which was or would have been eligible for relief became, through the earlier transfer, the property of the subsequent transferor or his spouse or civil partner (IHTM11032), and is, at the time of the subsequent transfer, occupied for the purposes of agriculture (IHTM24060) either by the subsequent transferor or by the personal representatives of the earlier transferor, and
• IHTA84/S121 (1)(c) - That property or part (or any property which has replaced it) would be eligible for relief on the subsequent transfer apart from the IHTA84/S117 occupation and ownership tests, and
• IHTA84/S121 (1)(d) - The earlier or the subsequent transfer was or is a transfer on death.