Paragraph 7B F1F2
In this Schedule “UK agricultural property” means agricultural land or pasture in the United Kingdom and includes—
woodland and any building used in connection with the intensive rearing of livestock or fish if the woodland or building is occupied with agricultural land or pasture and the occupation is ancillary to that of the agricultural land or pasture, and
cottages, farm buildings and farmhouses, together with the land occupied with them.
For the purposes of sub-paragraph (1), the breeding and rearing of horses on a stud farm and the grazing of horses in connection with those activities shall be taken to be agriculture and any buildings used in connection with those activities to be farm buildings.
Annotations
Textual amendments
- F1
Sch. A1 inserted (with effect in accordance with Sch. 10 para. 9 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 10 para. 1 (with Sch. 10 para. 9(2))
- F2
Sch. A1 paras. 7A, 7B and cross-headings inserted (with effect in accordance with Sch. 12 para. 20 of the amending Act) by Finance Act 2026 (c. 11), Sch. 12 paras. 18(5), 20
Notes on the whole Act
Textual amendments
- F1
By Finance Act 1986 s. 100(1), on and after 25 July 1986 the Capital Transfer Tax Act 1984 may be cited as the Inheritance Tax Act 1984.