.png)
.png)
Down on the farm
Key points
- To qualify for agricultural property relief the taxpayer must own property used for an agricultural purpose.
- The property must be located in either the UK the Channel Islands the Isle of Man or a country in the European Economic Area.
- Farmers must have owned the property for two years; non-farming landowners for seven years.
- Agricultural property relief is available on a transfer of shares in certain circumstances.
- The relief is in most cases 100% but only applies to the ‘agricultural’ as opposed to ‘market’ value of the land.
- If both agricultural and business property reliefs apply take agricultural property relief first.
Agricultural property relief (APR) is a popular topic at the Association of Taxation Technicians exam paper 5. It appears in most sittings in part I (short form questions).
Agricultural property relief is also commonly examined within the longer form questions in...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
