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Smoke and mirrors

06 December 2006 / Lisa Macpherson
Issue: 4087 / Categories: Comment & Analysis , Inheritance Tax
LISA MACPHERSON discusses the effect on agricultural property relief of the recent Special Commissioner's decision in Arnander.

WITH HOUSE PRICES going up faster than farmland values and with many farms having substantial houses attached will the farmhouse attract 100% agricultural property relief for inheritance tax purposes when the owner dies? What happens if the house is disproportionately large compared to the land being farmed does not have the character of a farmhouse or is little used for the purpose of farming; or if the owner takes little part in the farming operations? All four of these issues were considered by the Special Commissioner in the recent case of Arnander and others (SpC 565). The appeal was heard by Dr Nuala Brice and the decision in favour of HMRC was released on 23 October 2006. Dr Brice was also the Special Commissioner in Antrobus No 1 (i.e. Lloyds TSB (personal representative of Antrobus deceased) SpC 336 of which more later.
Dr Brice's decision...

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