Business owners can benefit from a valuable relief termed Business Property Relief (‘BPR’) which can mean no inheritance tax (IHT) to pay on the death of the owner, shareholder or partner.
There are various preconditions for full relief to be available. In order to qualify for BPR, the business must be a trading entity, as opposed to an investment business. The detailed rules are different, dependent upon whether the trade is run as an unincorporated business or via a limited company.
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