Decision Nº TMA 261 2019. Upper Tribunal (Lands Chamber), 10-01-2020 , [2020] UKUT 0006 (LC)
| Jurisdiction | UK Non-devolved |
| Judge | Mr Peter McCrea FRICS |
| Neutral Citation | [2020] UKUT 0006 (LC) |
| Date | 10 January 2020 |
| Court | Upper Tribunal (Lands Chamber) |
| Judgement Number | TMA 261 2019 |
© CROWN COPYRIGHT 2020
IN THE UPPER TRIBUNAL (LANDS CHAMBER)
Neutral Citation Number: [2020] UKUT 0006 (LC)
Case No: TMA/261/2019
TAX – INHERITANCE TAX - agricultural land – valuation under s.190 Inheritance Act 1984
– whether best consideration achieved – residual valuation method – comparable method
preferred - best consideration determined at £645,000
IN THE MATTER OF AN APPEAL UNDER
SECTION 222 OF THE INHERITANCE TAX ACT 1984
BETWEEN:
THE ESTATE OF DOUGLAS CHARLES
THOMAS (DECEASED)
Appellant
- and -
HER MAJESTY’S REVENUE AND CUSTOMS
Respondent
Re: Land at Ffoy Fach Farm
Heol Llanelli
Pontyates
Llanelli
Carmarthenshire
Peter D McCrea FRICS
Royal Courts of Justice
on
25 September 2019
Ned Westaway, instructed by Brinley Morris Rees and Jones Solicitors, for the appellant
Isabel McArdle, instructed by HMRC Solicitor, for the respondent
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