Finance Act 2010

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Amendment of section 89 (provisions relating to agricultural property) of Principal Act.

146.— (1) Section 89 of the Principal Act is amended by inserting the following after subsection (4):

“(4A) Where the proceeds referred to in subparagraph (ii) of subsection (4)(a) are expended in acquiring agricultural property which has been transferred by the donee or successor to his or her spouse, such property shall not be treated as other agricultural property for the purposes of that subparagraph.”.

(2) This section applies to transfers executed on or after 4 February 2010.