Capital Acquisitions Tax Consolidation Act 2003 section 102

Avoidance of double relief

Section 102 prevents a gift or inheritance that has already qualified for agricultural relief from also qualifying for business relief.

• Where the whole or part of the taxable value of a taxable gift or inheritance is attributable to agricultural property, business relief cannot also apply to that same value.
• The restriction applies where agricultural relief has been granted under section 89(2) (agricultural relief) or section 89A(2) (agricultural relief for certain leased land).
• The effect is that a beneficiary cannot claim both agricultural relief and business relief in respect of the same property — they must rely on whichever relief has been applied first.
• Section 102 was amended by section 101(1)(g) of the Finance Act 2024 to include a reference to section 89A(2), extending the restriction to agricultural relief granted for certain leased agricultural property.