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Query on agricultural relief

  • 09-02-2011 01:33PM
    #1
    DrPhilG
    Registered Users, Registered Users 2 Posts: 12,831 ✭✭✭✭


    I inherited some land a few years ago and avoided paying the bulk of the inheritance tax based on the rule on agricultural relief, i.e. more than 80% of my net worth was agricultural. I also need to keep ownership of the property for 6 years after inheritance.

    I'm currently thinking about building a house and I have 2 questions.

    1 - Can I use the land as collateral to build the house? Either building on that land or buying a site elsewhere.

    2 - Does using the land for collateral like this invalidate the not selling clause in the agricultural relief? I'm not technically selling the land but I am using the equity.

    Thanks in advance.


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