IHTM24022 | Unlisted shares: Rate of relief

IHTA84/S122 (3) gives relief at 100% under IHTA84/S116 (2)(a) where

• the company’s interest in the agricultural property (IHTM24030) carries the right to vacant possession (IHTM24140) (or the right to obtain it within 12 or 24 months), or

• if the transitional provisions apply

and at 50%, in other situations.

For deaths on or after 6 April 2026, and transfers made on or after 30 October 2024 and within 7 years of such a death, relief at 100% will be limited to £2.5m with the possibility of increasing to a maximum of £5m if the deceased survived a spouse or civil partner who did not use all their allowance. See IHTM25500 for more information.