IHTM23172 - Special valuation matters: agricultural relief claimed on the land
Where agricultural relief (IHTM24001) has been claimed you should determine whether the property qualifies for relief before you ask the Valuation Office Agency (VOA) to consider the taxpayer’s valuation of the property (IHTM23002). This includes whether business relief may be available as an alternative (IHTM24151).
Follow the relevant instructions where agricultural property owned by the deceased is occupied by a partnership (IHTM23171).
You will need to ask the VOA to provide both the open market value and agricultural value (IHTM24150) for any property on which agricultural relief is due.
From 6 April 2026, there is a £2.5 million 100% relief allowance on the combined value of agricultural and business property (apportioned between all items of such property) and any value over that amount gets relief at 50% (see IHTM25500). You should therefore consider the extent of potential chargeable values before proceeding to ask for a formally agreed value.