IHTM33170 - Adjustments to sale price: agricultural relief (AR) and business relief (BR)

If you receive a claim for relief in respect of an interest in land ( IHTM33061) which qualified for agricultural relief (AR) ( IHTM24000) or business relief (BR) ( IHTM26000) at 50% at the date of death and the sale is at a loss, then

• the AR or BR is preserved at its original rate, and
• is applied to the substituted sale value ( IHTM33073).

If a claim is made to substitute a higher sale price ( IHTM33072) for the date of death value ( IHTM33100) where no tax is due on the sold land because the sold land attracts 100% relief, you should deny the claim ( IHTM33026).

If a claim is made to substitute a higher sale price for the date of death value and the land attracts relief at 50%, you should refer the claim to TG.

You should also refer to TG any claim where there is a sale of more than one interest in land and the claim includes land that attracts AR or BR which has been sold at a higher value that the date of death value.