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
- 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), IHTA84/S121 (1)(a) and
- 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, IHTA84/S121 (1)(b) and
- That property or part (or any property
which has replaced it) would be eligible for relief on the
subsequent transfer apart from theIHTA84/S117 occupation and
ownership tests, IHTA84/S121 (1)(c)and
- The earlier or the subsequent transfer was
or is a transfer on death, IHTA84/S121 (1)(d)
