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For inheritance tax purposes we need to consider whether or not agricultural land is subject to a tenancy. If it is the value of the land (IHTM24150) and the rate of agricultural relief that is likely to be available (IHTM24140) will both be affected.

»Ê¹ÚÌåÓýappre may also be rare occasions where we need to value an agricultural tenancy

• Where a partnership/business is in deficit, but holds an agricultural tenancy (IHTM24016)
• Where the partnership/business holds an agricultural tenancy, but does not qualify for agricultural/business relief from inheritance tax

IHTM23198 gives details of what to do in such situations.