The value of Sugar Beet Quotas - more correctly described as
contracts between British Sugar and the farmer - normally have no
significant value. The contract could be cancelled by British Sugar
when the occupier of the land changed.
However, the Sugar Beet Outgoers Scheme, lasting from 23
July to 15 October 2001 created a market in Sugar Beet Contracts
for that period. This was the first in a series of similar
initiatives resulting from the EU Decision to restructure the Sugar
Market, which included factory closures in Shropshire and York. In
such circumstances a Sugar Beet Contract may have value for
Inheritance Tax purposes although it is likely that Business
Property Relief will also apply. In cases which involve these
circumstances you should seek guidance from TG in Nottingham, as
values are highly dependent on the dates and circumstances of the
particular re-structuring scheme.
