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mainly covers Hold-over Relief, which allows liability to be deferred and passed on to the recipient of the gift officer” includes an officer of Revenue and Customs, an immigration officer, a constable, an SFO officer (in England, Wales and Northern Ireland) and an AFI unless otherwise specified. Where SP8/92 applies, the claim is admitted on condition that the provisional values submitted with the claim are left to be agreed between the claimants and us at a later date, when and if it becomes relevant to the calculation on a further disposal by either claimant. You need to enter estimated values in the tax return and the claim form. Where agricultural land would not qualify as business assets under category 1, because it is not used for a trade carried on by an appropriate person, it can qualify for Hold-over Relief if it’s agricultural property for the purposes of Inheritance Tax. The Inheritance Tax relief for agricultural land is limited to its agricultural value.

Section 290 requires the officer to obtain prior “appropriate approval” before the exercise of any of the search powers under section 289, unless in the circumstances it is not practical to obtain that approval before exercising the power. “Appropriate approval” means approval from a judicial officer or (if that is not practical in any case) from a “senior officer”. A “judicial officer” is, in relation to England and Wales a justice of the peace; in relation to Northern Ireland, a lay magistrate [footnote 20] and in relation to Scotland, a sheriff. Relief may also be available when a person becomes entitled to trust property, or where trustees are treated as if they had made a disposal (except in cases concerning anti-avoidance provisions). When this helpsheet refers to gifts, you should assume it includes these cases unless other definitions exclude them. The code should be made available for reference by officers using the powers, and for members of the public. It should be available in particular at police premises and at ports where the powers are, or are likely, to be used. Government departments and other bodies who have AFIs operating these powers should also make arrangements for the code to be available, if practical, at their public offices. establish if anything is known about the likely owner(s) or occupier(s) of the premises or someone else entitled to grant entry and the nature of the premises themselves;

If the base cost is a value, agreement of the value will be needed at both dates in these circumstances. The main conditions of SP8/92 are incorporated in the claim for Hold-over relief forms. Officers must be aware of their mandatory obligations under the legislation and act in accordance with those duties. This is an absolute requirement regardless of any interpretation of this code or any other document or guidance. Abbreviations used in this code

You must complete a separate form for each disposal to claim Hold-over Relief. You can use photocopies. Where the power to search a person is exercised under section 289(3), the officer may (so far as they think necessary or expedient for the purposes of searching for cash to which the power applies) require the person: Relief is also available for certain gifts to registered bodies, such as Community Amateur Sports Clubs. Find the full list in Schedule 3 Inheritance Tax Act 1984.The held-over gain should be calculated and, if possible, agreed. For cases involving things such as unlisted shares or land, this may cause complicated and unproductive work. Where SP8/92 applies, the claim is admitted on the condition that the provisional values submitted with the claim are left to be agreed. They should be agreed at a later date between the claimants and HMRC, when and if it becomes relevant to the calculation as a result of further disposal by either claimant. The usual reason to hold an application without notice and in private would be so as not to alert persons connected to the cash that such action is contemplated. Being so alerted may have the effect of the person(s) moving the cash and thereby frustrating the operation of the powers. However, if there is no concern that the cash could be moved, the person(s) connected to the cash should normally be notified of the intention to make an application for prior approval to search for cash. The officer will need to: A refusal by a person to allow a search of a person, premises or a vehicle may, in some instances, constitute an offence (including but not limited to) wilful obstruction of an officer in the exercise of a power or execution of a duty. [footnote 10] This would be a criminal matter and is not an issue for, or subject to, this code. Officers should be aware of other legislation and codes applicable in these circumstances. Scope of the search powers The powers to search for cash are exercisable by an immigration officer only if the officer has reasonable grounds for suspecting that the unlawful conduct through which the cash was obtained, or for which the cash is intended to be used, is conduct which both constitutes an offence and:

There is a separate code of practice relating to the exercise of the powers in section 289 by constables in Scotland. The relevant code is made by Scottish Ministers under section 293. There is a separate code of practice relating to constables and AFIs in Northern Ireland. The relevant code is made by DoJNI under section 293A. the person should be informed that they can be required to permit a search under section 289 for the purposes of finding such cash and (where applicable) warned that failure to comply could amount to a criminal offence;

In the case of searches undertaken by constables the record of the search should be made, copied or referred to in the search register. In the case of searches undertaken by other officers the record of the search should be maintained in a suitable form, i.e. the record should be easily accessible, retrievable and subject to reasonable rules for storage, in particular in relation to the length of time before the record is destroyed. The Capital Gains Tax Manual has more information about these definitions. Category 3 Agricultural land

This code of practice is made in connection with the exercise of the search powers conferred by section 289 on the following officers only, in the areas set out for each type of officer: If you transfer an asset to another person at no charge, it is considered to be both a gift and a disposal different to that of a bargain at arm’s length. If you receive something for transferring an asset, but the consideration is less than its market value, this is also considered to be a disposal different to that of a bargain at arm’s length.the officer should give the person their name or other identifier, subject to the provisions in POCA relating to pseudonyms of officers of the NCA and members of staff of a relevant Director; [footnote 25]