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HEIDI POON asks if there are greener pastures for business property relief after the Balfour case
KEY POINTS
- Mixed agricultural estate and business property relief.
- Balfour decided for the taxpayer.
- Qualitative and quantitative assessment and IHTA 1984 s 105(3).
- Business matrix is a diagnostic rather than planning tool.
- Implications of Nelson Dance.
To the successor of Lord Balfour the pastures of Whittingehame Estate by Haddington in East Lothian no doubt looked greener against the azure northern sky on 16 August 2010 the date of release of the Upper Tribunal (Tax and Chancery Chamber) decision on Brander (representative of James (deceased) Fourth Earl of Balfour) v CRC [2010] STC 2666 seven years after Lord Balfour’s death on 27 June 2003.
The Upper Tribunal upheld the First-tier Tribunal’s ruling that business property relief (BPR) was...
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