Business property relief (BPR) offers inheritance tax (IHT) relief of 100% or 50% on a transfer of value attributable to ‘relevant business property’. For example, unquoted company shares potentially qualify for 100% BPR, subject to certain general restrictions where the company’s activities consist wholly or mainly of dealing in stocks or shares, land or buildings,… Read More »
Business property relief (BPR) is an important inheritance tax (IHT) relief. It shelters the value of eligible business property from IHT, at current rates of 100% or 50%. The most common categories are a business (or interest in a business) and unquoted company shares, which potentially attract BPR at 100%. Various conditions must be satisfied… Read More »
Business property relief (BPR) offers relief from inheritance tax (IHT) of 100% (or 50%) on a transfer of value which is attributable to ‘relevant business property’. Unfortunately, not all unquoted company shares qualify for BPR. Certain company activities make the shares ineligible for relief, such as dealing in stocks or shares, land or buildings, or… Read More »
Most tax advisers use the guidance manuals published by HM Revenue and Customs (HMRC) on a regular basis. Taxpayers may sometimes refer to them as well. It might be tempting to go straight to the HMRC manuals for guidance on a tax issue, without looking at the relevant tax legislation. This would be a mistake… Read More »