Section 16 Grant of tenancies of agricultural property.
(1)
The grant of a tenancy of agricultural property in the United Kingdom F1... for use for agricultural purposes is not a transfer of value by the grantor if he makes it for full consideration in money or money’s worth.
(2)
Expressions used in subsection (1) above and in Chapter II of Part V of this Act have the same meaning in that subsection as in that Chapter.
Annotations
Textual amendments
- F1
Words in s. 16(1) omitted (with effect in accordance with s. 11(7) of the amending Act) by virtue of Finance (No. 2) Act 2024 (c. 12), s. 11(2)
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.
Notes on Dispositions that are not transfers of value (and omissions that do not give rise to deemed dispositions)
Textual amendments
- F1
Words in s. 10 cross-heading inserted (15.9.2016) by Finance Act 2016 (c. 24), s. 94(2)