IHTA 1984, s 265 provides that where the value transferred by a chargeable transfer is determined by reference to the values of more than one property, the IHT is attributed rateably to each in proportion to their respective values. The value taken for this purpose is the value after it has been reduced by any provision which reduces the value for IHT purposes (for example, BPR or APR)1.
Thus, if, by a single disposition, there is transferred property which includes agricultural and other land, the whole estate is valued and the proportion attributed to the agricultural land is based on the value of that land after allowing for the appropriate relief.
The above general
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