IHTM14579 - Additional charges:
business/agricultural relief
Where the value transferred by the chargeable transfer was after
reduction by BR or AR, the value for tax may not be the same in the
recalculation.
For the purpose of calculating the additional tax payable
because of the transferor’s death, the reliefs are not
preserved unless
- the additional conditions for business
relief (
IHTM25361),
or
- the additional conditions for agricultural
relief (
IHTM24172)
are satisfied.
If the additional conditions are
not satisfied
- calculate the additional tax on the basis
of no relief
but
- for the purpose of calculating the tax on
later transfers, including that on the transferor’s death,
the value for cumulation purposes remains that as established for
the IHT charge at the time of the transfer - i.e. as reduced by BR
or AR.
