SVM112170 | IHT Agricultural Property Relief: References to the Valuation Office

Where Agricultural Relief (AR) has been claimed or is likely to be available, you should determine whether the conditions for relief are satisfied before you refer the papers to the Valuation Office (VO).

For further information see IHTM24160 onwards.

Agriculture

Under section 115 "agriculture" may be taken to include

• the breeding and rearing of horses on a stud farm

and

• the grazing of horses in connection with those activities.

When instructing the VO in such a case you should

• indicate that agricultural relief has been claimed for what is described as a stud farm

and

• request the VO to confirm that the property was in fact used as a stud farm.

Other questions

If the replacement provisions for either the company occupation/ownership or the share ownership tests are in point, particulars of the replaced property and of the agricultural value at the time of its replacement should also be obtained before reference to the VO is made.

Additional Guidance: SVM150000