释义 |
agricultural property relief An inheritance tax relief on the transfer of agricultural land and buildings when certain qualifying conditions are met. A farmhouse can qualify for agricultural property relief. Relief is 100% of the agricultural value, except for land let on a pre-September 1995 lease. The effect of the relief is that no inheritance tax is payable on the agricultural value of farmland, but IHT is payable on any development value of that land. |