A form of business property relief (BPR — see Division I7.1) is available in respect of the value of trees and underwood, provided that the woodlands are part of a business which qualifies as relevant business property1.
If a person (B), dies and his estate includes growing trees and underwood ('timber') the value of the timber can be left out of account in calculating the IHT payable in connection with his death. If the timber is subsequently disposed of before the land on which it is growing forms part of the value transferred
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