ÀÏ˾»úÎçÒ¹¸£Àû

Landed estates


Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance
tag-icon Autumn Budget 2024

Landed estates


Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance
tag-icon Autumn Budget 2024
imgtext

This guidance note looks at aspects of IHT planning in relation to landed estates.

Characteristics

The term ‘landed estate’ refers to a large house in the country with an extensive area of land around it. Typically, the estate will cover farming and business interests as well as residential accommodation for the owner and tenants. Landed estates may include parkland, woodlands, and property of historical and cultural importance.

A range of inheritance tax reliefs are relevant:

  1. •

    Agricultural property relief (APR)

  2. •

    BPR overview

  3. •

    Heritage property ― conditional exemption

  4. •

    Woodlands

Detailed conditions for these individual reliefs and planning points are found in the guidance notes indicated.

Almost by definition, the major part of the wealth in a landed estate will be held in its land and buildings. Traditionally, the property will have been passed down through generations of the same family, and there will be an expectation, or at least a hope, that the estate can be held together as a single entity. In this context, relief from inheritance tax on a

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+â„¢
TAKE A FREE TRIAL NOW
Powered by
  • 01 Nov 2024 07:10

Home/ Tolley Tax Guidance/ Trusts and Inheritance Tax / IHT planning

Popular Articles

Corporation Tax

Corporate interest restriction ― administrative aspects

Corporate interest restriction ― administrative aspectsThe corporate interest restriction (CIR) regime has some specific administrative rules in addition to the general administrative requirements for corporation tax returns. This guidance note does not include commentary on provisions that are

14 Jul 2020 11:19 | Produced by Tolley Read more Read more
Value Added Tax

UK VAT invoice requirements

UK VAT invoice requirementsThis guidance note provides details of the information that must be shown on a valid tax invoice. Businesses supplying goods and services that are liable to the standard or reduced rate of VAT are required to issue a tax invoice to another VAT registered person.If the

14 Jul 2020 13:46 | Produced by Tolley Read more Read more
Owner-Managed Businesses

Interest on late paid tax

Interest on late paid taxIntroductionInterest on late paid tax is a compulsory charge set out in legislation to reflect the interest which would have accrued to the Exchequer had the correct amount of tax been paid at the right time.Harmonised legislation was introduced in 2009 to:•set statutory

14 Jul 2020 12:00 | Produced by Tolley in association with Philip Rutherford Read more Read more