SolvedSVM112100 | Agricultural Property Relief: Share Ownership Test
From HM Revenue & Customs · Shares and Assets Valuation Manual
In addition to the company occupation/ownership test for agricultural relief (AR), the shares or securities must have been owned by the transferor
where the occupation rule in section 123(1)(a)(i) IHTA 1984 applies, (see SVM112060) throughout the same two year period ending with the date of the transfer or
where the ownership rule in section 123(1)(a)(ii) IHTA 1984 applies, (see SVM112060) throughout the same seven year period ending with the date of the transfer.
As with business relief (BR), the ownership tests apply only to the shares or securities and not to the possession of control as such (see SVM111000 ).
Further details on the meaning of ownership can be found at IHTM24101 Section 91 IHTA 1984, where an unadministered residuary estate includes shares in a company which owns agricultural property, a residuary beneficiary is treated as owning those shares, or the appropriate proportion, from the date of death.
See IHTM24100 onwards for further information.
Additional Guidance: SVM150000