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L have 75 acres of land since i retired after farming the land

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l have 75 acres of land since i retired after farming the land for 30 years let the land on an agricultre bussines tenancy for 3 years can ì have 100% relief on death
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to assist you with your question. Agricultural Relief is quite complex, there are e lot of hoops to go through, and you can read all about it here: https://www.gov.uk/agricultural-relief-on-inheritance-tax Here are the key points: 'The property must have been owned and occupied for agricultural purposes immediately before its transfer for:2 years if occupied by the owner, a company controlled by them, or their spouse or civil partner7 years if occupied by someone else'As you have owned for 30 years you should satisfy this first condition. I do hope I have shed some light on the position.

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