IHTM25222 - Land and buildings, machinery and plant: Property within IHTA84/S105 (1)(d)

IHTA84/S105 (1)(d) applies to

• any land or buildings, machinery or plant which
• immediately before the transfer
• was used wholly or mainly for the purposes of a business ( IHTM25153)
• carried on by either a company which the transferor then controlled or a partnership of which the transferor was then a partner.

There are additional requirements governing the period of user ( IHTM25223) and the transferor's interest in the occupying company or partnership ( IHTM25224).

User for the purposes of a business is a factual test; there does not have to be a binding contractual relationship between the transferor and the company or partnership.

There are special rules ( IHTM25354) where part of any land or building within IHTA84/S105 (1)(d) is used exclusively for the purposes of a business.

For the valuation implications of the IHTA84/S105 (1)(d) situation, see the following instructions:

• related property ( IHTM23206)
• partnership property ( IHTM23198)
• property let to a company in which the deceased was interested ( IHTM23202)
• business premises owned by the deceased and occupied by a partnership terminating on the relevant transfer ( IHTM23174)
• machinery and plant ( IHTM23195)