Inheritance tax in farming
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ndaccounts
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I have a client who was in a farming partnership with his wife - his wife died before the new IHT rules. Her husband received all her share of the partnership on death.
On his death is he now entitled to her full allowance of personal residence relief, nil rate band and business relief for the farm - so the full £1,000,000 relief - even though she died before the new rules came in.
On his death is he now entitled to her full allowance of personal residence relief, nil rate band and business relief for the farm - so the full £1,000,000 relief - even though she died before the new rules came in.
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