Where gift within 7 years of death, tax at death rates becomes payable, reduced as follows and credit given for tax paid on lifetime gift:
Business and Agricultural Relief
Assets or trust property used by qualifying company or business, farmland (if let before 1.9.95), or controlling holding in listed company: 50%
Payment date – 6 months after death/chargeable transfer, or for lifetime gifts made 6 April to 30 Sept, due 30 April in following year.
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