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ADRIAN BAIRD examines the meaning of 'agricultural value' within IHTA 1984, s 115(3).
Defining husbandry
There has been some doubt as to whether bio-fuel crops are 'husbandry'. Readers may be interested to know that I have recently received confirmation that the Inland Revenue will accept that 'normal crops', which are grown with fuel production as the objective, still fall within the definition of husbandry. 'Normal crops' means oil-seed rape, beet, cereals and miscanthus.
Adrian Baird, Country Land and Business Association.
Correspondence
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Correspondence from readers on topical subjects.
The levellers
The comment piece 'Levelling Down' (see Taxation, 11 November 2004, page 143) alludes to the Orwellian aspects of the recent developments concerning the scope of the exemption for privileged information under the tax scheme disclosure rules.
Correspondence
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Correspondence from readers on topical subjects.
Section 660A
There is one particular aspect of Dr Brice's judgment in Jones v Garnett that I find particularly strange.
ADRIAN BAIRD of Country Land and Business Association discusses two recent inheritance tax cases on farmhouses. THIS ARTICLE CONCERNS inheritance tax agricultural property relief and its application to farmhouses; and the agricultural value of farmhouses (which is the value on which that relief is given).
