You can claim 100% relief from IHT on agricultural buildings and land as long as they are held for at least two years before you die. You do need to show, however, that land is being used for agricultural purposes. Lawyers say you can rent out the land to farmers for them to graze sheep, cows or horses, for example, and benefit from IHT relief.

You do need to collect rent from the buildings concerned. HMRC has been quite aggressive in arguing that land or property has not been used for agricultural purposes. The advantage of agricultural and business property relief is that beneficiaries only inherit the money on your death. You do not have to worry about children inheriting a substantial amount of wealth when they reach 18.

This planning has become even more prominent since the announcement of the new IHT regime for trusts. Agricultural property relief is being marketed to wealthy individuals living in cities as a key way of mitigating IHT.