Inheritance Tax Manual

From:

Valuation Office Agency

Published

5 May 2017

Updated:

24 August 2021, see all updates

1. Contents

The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 1: Overview of IHT

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 2: RESERVED

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 3: RESERVED

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 4: transfer of value in life and on death

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 5: relation to other Capital Taxes

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 6: exemption

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 7: revenue basis of market value - general principles

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 8: settled property

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 9: agricultural property

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 10: woodlands

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 11: relief for business property

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 12: falls in value and other relief for sales of land within four years after death and following vompulsory acquisitions

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 13: transfer within seven years before death relief for falls in market value

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 14: liability of spouse or civil partner for transferor's tax including relief for falls in market value

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 15: related property

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 16: shares and assets valuation

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 17: valuation of property subject to a land charge following an RTB discount or a renovation grant

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 18: undivided shares

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 19: partnership property

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 20: national heritage property

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 25: lotting of Items

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 26: reference of cases to the VOA

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 27: general procedures

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Section 37: appeal cases

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice Note 1: valuations for revenue purposes

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice Note 1: appendix A - Duke of Buccleuch v Commissioners of Inland Revenue (1967) IAC 506

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice Note 1: appendix B - Earl of Ellesmere v Commissioners of Inland Revenue, (1918) 2 KB 735

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice Note 1: appendix C - Lynall v Commissioners of Inland Revenue (1972) AC680

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice Note 1: appendix D - Commissioners of Inland Revenue v Clay and Another (Plymouth case), (1914) 3 KB 466

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice Note 1: appendix E - Alexander v Inland Revenue Commissioners (1991)

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice Note 1: appendix F - Inland Revenue Commissioners v Gray (Executor of Lady Fox deceased) (1994)

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice Note 2: undivided shares

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice Note 3: valuation of interests encumbered by tenancy or licence, the nature of encumbrance- law as at July 1994

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice Note 4: agricultural tenancies

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Part 1: a summary of relevant legislation (1) agricultural holdings

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Part 2 : a summary of relevant legislation (2) agricultural dwellings

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Part 3: essentials of a tenancy

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Part 4: security of tenure

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Part 5: rent reviews

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice note 6: full consideration in money or money's worth

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice note 10: agricultural relief - Inheritance Tax

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice note 10: part 1 - identification of agricultural property

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice note 10: part 2 - assessment of agricultural value

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Practice note 10: part 3 - relief given since 1981

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 1: rates of Inheritance Tax

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 2: VOA 1 request for initial VOA case approval

  Summary to be provided

• Appendix 3: form VOA 2 request for full VOA evaluation

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 3A: form VOA 3 continuation form to form VOA 1 and VOA 2

  Summary to be provided

• Appendix 4: form VO 1120 - VOA response to forms VOA 1 and VOA 2

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 5: form val 63 - requests from SV for formal valuations and report

  Summary to be provided

• Appendix 6A: form VO 1164 - reporting not negotiated cases to SAV

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 6B: form VO 1165 - reporting formal cases to SAV

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 7: form cap 37 - schedule of property to be valued

  Summary to be provided

• Appendix 8: form D12 - land, buildings and interest

  Summary to be provided

• Appendix 9: form VO 1105 - VOA opening letters to parties

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 10: form VOA 4 - email template used by IR(CT) for communications with VOA

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 11: form VO 1101 - notification of valuation to parties

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 12: form VO 1102 - reminder to parties

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 13: form VO 1103 - advice to IR(CT) on state of negotiations

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 14: form VO 1110 - final report

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 17: time limits and targets for IHT cases

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 18: appeal reports - guidance notes on completion

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 19: appeal reports - guidance notes for cases involving claims for agricultural relief

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 21: litigation general

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 22: the Special Commissioners

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 23: the Lands Tribunal

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 24: the expert's report and notes for guidance of advocate

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 25: rule 42 documents and other exhibits

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 26: VO1191 - letter requesting PD consent for hearing before commissioners

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 27: VO1193 - letter for PD consent for use at lands tribunal

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 28: related property

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 29: national heritage property, form of descriptive report

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.

• Appendix 30: caravan parks - business relief

  The Valuation Office Agency's (VOA) technical manual relating to Inheritance Tax.