PART V MISCELLANEOUS RELIEFS
C1CHAPTER I BUSINESS PROPERTY
Annotations:
Modifications etc. (not altering text)
104 The relief.
1
Where the whole or part of the value transferred by a transfer of value is attributable to the value of any relevant business property, the whole or that part of the value transferred shall be treated as reduced—
a
in the case of property falling within section 105(1)(a) or F1(b) or (bb) below by50 per cent;
b
in the case of other relevant business property, by 30 per cent;
but subject to the following provisions of this Chapter.
2
For the purposes of this section, the value transferred by a transfer of value shall be calculated as a value on which no tax is chargeable.
Pt. V Ch. I (ss. 103-114) modified (16.7.1992) by Finance (No.2) Act 1992 (c. 48), s. 73, Sch. 14, para. 9(4).