Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Chapter IHTM33033

Document Cited authorities 1 Cited in Related
Vincent
Published date20 March 2016
Record NumberIHTM33033
CourtHM Revenue & Customs

This page tells you what checks to make before you can agree the claim to loss on sale of land relief. You should try to complete all the checks and obtain any advice you need from Technical before raising enquiries about the claim.

Was the property sold within the time limits?

You should check that the date of sale of each interest in land (IHTM33061) was:

within four years of the date of death, or

within three years of the date of death, if the interest was sold for a higher price (IHTM33074).

If any of the sales were outside the time limits you should explain this to the taxpayer or agent. You will need to exclude these sales from the claim for relief, unless the property was sold subject to a compulsory purchase order (IHTM33091).

Has the correct date of death value for each property sold been included in the claim?

If not you will need to raise this with the taxpayer or agent and amend the claim.

Top of page

Is there evidence to suggest that the sale may not have been at arms’ length?

You should consider whether the instructions on non-qualifying sales (IHTM33081) apply and if necessary, raise the matter with the taxpayer or agent. In other cases, you should ask the VOA whether the sale was for the best consideration that could reasonably be obtained at the time (IHTM33072).

Top of page

Was any of the property held on a lease?

If the lease or an interest in the lease has less than 50 years to run then you must adjust the sale price (IHTM33131).

Top of...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT