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HMRC v AM Brander

In HMRC v AM Brander (Earl of Balfour’s Personal Representative) (Upper Tribunal – 16 August) the Earl of Balfour had inherited a liferent interest in a family estate in 1968. Much of the estate was used for farming. In November 2002 the Earl entered into a farming partnership with his nephew (who was his heir and intended successor). In June 2003 he died. HMRC issued a ruling that business property relief was not due. The Earl’s personal representative appealed contending that the effect of the ‘replacement property’ provisions in IHTA 1984 s 107 was that the estate qualified for business property relief. The First-Tier Tribunal accepted this contention and allowed the appeal finding that the Earl’s interest in the partnership which subsisted immediately before his death replaced the business which he had previously carried on.

The tribunal also held that IHTA 1984 s 105(3) did not apply...

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