Example 1—ownership by life tenant of QIIP
Under a tenancy beginning before 1 September 1995 the trustees of a QIIP let the settled farm to a third party farmer throughout the eight years immediately preceding the death of the life tenant.
The life tenant did not occupy the property, but he satisfied the seven-year ownership requirement so the value of the farm will be reduced by 50%.
The
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Web page updated on 17 Mar 2025 13:23