Tax Insider Tip: Inheritance Tax: Planning In Family Companies
Business property relief (BPR) at 100% is available for inheritance tax (IHT) purposes if an asset, such as shares, constitutes ‘relevant business property’. The 100% relief means that the asset is effectively exempt from IHT. There are numerous conditions that need to be met, including that the transferor must usually have owned the shares for at least two years.
In a recent issue of Tax Insider, Kevin Read discusses planning opportunities for maximising business property relief and warns of some of the traps that can cause this valuable inheritance tax relief to be lost.
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