IHTM30212 - Transfers on death: categories of qualifying property

The categories are: 

  • land (IHTM30213) 

  • from 6 April 2026, property which qualifies for business relief (BR) (IHTM25131) (see below) 

  • businesses (IHTM30214) 

  • shares: control holdings (IHTM30217) 

  • unquoted shares: undue hardship (IHTM30218) 

  • unquoted shares: 20% tax test (IHTM30219) 

  • unquoted shares: £20,000 value and 10% nominal value test (IHTM30220). 

The following pages provide detailed instructions on their treatment. 

Property which qualifies for BR 

From 6 April 2026:  

  • there is a 100% relief allowance (IHTM25500) for the combined value of qualifying business and agricultural property, and the value over that amount gets relief at 50% 

  • additionally, shares in companies listed on a market that does not meet the definition of ‘listed’ for HMRC purposes (such as AIM), can now only qualify for 50% relief if the conditions are met (IHT25301).  

From the same date, any property which qualifies for BR will also qualify for instalments.  Those instalments will be interest free (IHTM30363) see IHTA/S227(2)(aa) and IHTA/S234(a)). 

If property qualifies for BR at 100%, either because the transfer was before 6 April 2026 or, after that, because it is covered by the 100% relief allowance, then instalments will not be relevant.