Podcast Location:
Download it here [file size: 26 MB]
Categories:
Real Estate & Property Law
Tax Law
Tax & Planning
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast is aimed at practitioners interested in private client tax planning issues or those with an interest in agricultural land holdings and farming. It aims to set out the key conditions that must be satisfied in order to qualify for tax relief on the agricultural value of land under the Inheritance Act 1984 and discusses some recent case law in this area that practitioners may find useful.

Outcomes:
After completing the course you will:
  • Understand what APR is for;
  • Understand the key building blocks for an APR claim;
  • Understand the additional tests that must be satisfied to obtain tax relief on the value of any farmhouse;
  • Be aware of some recent case law concerning the scope to claim APR where there is a break in the occupation of the farmhouse by the farmer;
  • Understand the significance of the Golding (2011) decision;
  • Know whether it is common ownership or common occupation that is required to qualify for APR.
Level:
General Interest Difficulty: 2 of 5
Classification:
Case Update
Introduction
Legal Principles
Sources and References:
  • Inheritance Tax Act 1984 ss 115 to 124C;
  • Lloyds TSB (Personal representatives of Rosemary Antrobus Deceased) v Commissioners of Inland Revenue (Antrobus No.1) [2002] W.T.L.R. 1435;
  • Arnander & others (Executors of David McKenna (deceased)) v HMRC [2007] W.T.L.R. 51;
  • Golding v HMRC [2011] WTLR 1183;
  • Lloyds TSB (Personal representatives of Rosemary Antrobus Deceased) v. Commissioners of Inland Revenue (Antrobus No.2) [2005] WTLR 1535;
  • Rosser v Inland Revenue Commissioners [2003] STC (SCD) 311;
  • Hanson v HMRC [2012] UKFTT 95 (TC);
  • Atkinson v HMRC [2012] WTLR 197.
Tags:

This podcast explores the conditions that must be satisfied in order for property to qualify for Agricultural Property Relief from Inheritance Tax.

Podcast added: 24/05/2012

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