IHTM25311 - Replacement property: Introduction

The ownership test ( IHTM25301) is not satisfied if the business property was not owned by the transferor ( IHTM25302) throughout the two years immediately preceding the transfer.

However, you can still treat the test as satisfied if the property replaced other business property and certain conditions are met, IHTA84/S107 (1).

These conditions are summarised in a chart ( IHTM25312).