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A mother received an inheritance of land on death of her son October 2015 value €450,000, she will qualify for Agricultural Relief. She wishes to transfer this asset in full to another son who does not qualify for Agricultural Relief. The second son may not qualify for business relief as the mother was renting the land to the son now being gifted it, but 2016 income tax returns not yet completed. Does the Class A Threshold apply to the transfer from the deceased son to the mother AND also to the transfer from the mother to the other son? Can the son claim business relief if the mother actually farms the land for 5 years and passes on the land to him after that period? Thank You.

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Posted by (Questions: 25, Answers: 3)
Asked on 3 February 2017 4:11 pm
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