Relief is not available when the shares or securities concerned are subject to a binding contract for sale at the time of the transfer, except where the sale is made for the purpose of reconstruction and amalgamation.
There is a similar provision for business relief (s.113) and, therefore, the instructions at SVM111120 should also be treated as applying in this context.
Where agricultural property owned by a company was itself subject to a binding contract for sale at the time of the transfer of value, you should refer the case to the Appeals Team.
| Additional Guidance: SVM150000 |
