APR relief

Question 1

what qualified to 100% relief?

Answer 1

Most agricultural property
Shares in a farming company where the individual has control of the company (including any relevant
property holdings) and meets the relevant ownership condition

Question 2

what qualifies for 50% relief?

Answer 2

a tenanted farm where the lease was entered into before the 1st of September 1995 and the owner
does not have the right to vacant possession for the next two years from the transfer

Question 3

what is the time limit for holding before transfer?

Answer 3

The agricultural property needs to have been held for a minimum 2 year period before the transfer if the
owner is farming the property themselves or for 7 years if tenants have been farming the property.
- agriculture properties need to be situated in the UK unlike BPR

Question 4

QSR Relief percentages and forumla?

Answer 4

QSR= IHT on first transfer & appropriate %

0-1 years 100%
1-2 80%
2-3 60%
3-4 40%
4-5 20%