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I3.241 Liabilities attributable to financing relievable property

In relation to transfers of value made or treated as made on or after 17 July 2013, IHTA 1984, s 162B imposes restrictions on the deduction of any liability incurred on or after 6 April 2013 to finance relievable property. Relievable property in this context means relevant business property entitled to BPR under IHTA 1984, s 104¹, agricultural property entitled to APR under IHTA 1984, s 116², or woodlands entitled to deferment of IHT charge under IHTA 1984, s 125³.

For further information on BPR, APR and woodlands relief see I7.101, I7.302 and I7.402.

IHTA 1984, s 162B makes essentially the same provision in relation to all three categories of relievable property. Section 162B applies if there is a transfer of value made, or treated as made, on or after 17 July 2013, where the following conditions are met: the value transferred is wholly or partly attributable to relievable property, and the transferor at the time of the transfer has a liability