# Inheritance Tax Act 1984, Section 16: Grant of tenancies of agricultural property.


(1) The grant of a tenancy of agricultural property in the United Kingdom ... 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.

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Source: https://www.legislation.gov.uk/ukpga/1984/51/section/16 (the official version)
Page: https://openlegislation.uk/inheritance-tax-act-1984/section-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.