Section 7B — Inheritance Tax Act 1984

7B 1 In this Schedule “ UK agricultural property ” means agricultural land or pasture in the United Kingdom and includes—

a woodland and any building used in connection with the intensive rearing of livestock or fish if the woodland or building is occupied with agricultural land or pasture and the occupation is ancillary to that of the agricultural land or pasture, and b cottages, farm buildings and farmhouses, together with the land occupied with them.

2 For the purposes of sub-paragraph (1), the breeding and rearing of horses on a stud farm and the grazing of horses in connection with those activities shall be taken to be agriculture and any buildings used in connection with those activities to be farm buildings.