IHTM24120 - Successions: Introduction

IHTA84/S120 contains provisions where, in certain circumstances, agricultural relief may be allowed on a second transfer even though the occupation (IHTM24070) and ownership (IHTM24100) requirements of IHTA84/S117 are not satisfied. Broadly, the deceased/transferor must have acquired agricultural property on a death and if they do not meet the occupation and ownership conditions themselves, the provisions of IHTA84/S120 will treat the conditions of IHTA84/S117 as satisfied.

Consequently, the provisions of IHTA84/S120 are not an alternative to IHTA84/S117 which can be applied without regard to the requirements of S117. Instead, they apply to treat the provisions of S117 as satisfied where they would not otherwise be. In this respect, the provisions of S120 are quite different from those in IHTA84/S121 which apply to successive transfers. (IHTM24130)