Back To Basics

Back To Basics

Valuable Reliefs

NICK HUGHES explains the rules of business property and agricultural property reliefs.

WITH INHERITANCE TAX planning increasingly hampered by anti-avoidance legislation making the most of available reliefs and exemptions is essential. In this context business and agricultural business property reliefs are particularly important not only because they can provide relief at 100% but also because the scope of the reliefs is so wide. For example it is no longer necessary to have a shareholding with more than 25% voting control of an unquoted company to get business property relief. Nor is it necessary to be a full-time working farmer to get agricultural property relief. Both reliefs are available to investors. This article is intended to act as a reminder of the main requirements of...