Tag Archives: Business property relief

Gifting shares – Don’t make a ‘reservation’!

It is common for shares in a family company to be passed down the generations. However, anti-avoidance rules dealing with ‘gifts with reservation’ (GWR) are a potentially nasty inheritance tax (IHT) trap. Cake and eat it The GWR provisions (FA 1986, ss 102-102C; Sch 20) are broadly designed to prevent an individual seeking to reduce… Read More »

IHT and holiday lettings: A (rare!) business property relief success

Inheritance tax (IHT) relief at the rate of 100% is an attractive proposition. Business property relief (BPR) is available to business owners if certain conditions are satisfied. BPR at the 100% rate applies to ‘relevant business property’ including a business or interest in a business (in certain other cases, BPR is available at 50% instead).… Read More »