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Will my business assets be subject to Inheritance Tax? - news article image

Will my business assets be subject to Inheritance Tax?

12 Feb 2021

1 minute read

Assets in a private company are subject to Inheritance Tax (IHT) but Business Relief (BR) can reduce this by 50-100%. 

To qualify for BR, the business to which the property relates must be a trading business. You cannot claim BR if the company wholly or mainly (ie more than 50%) deals with securities, stocks or shares, land or buildings, or in making or holding investments.  In this context, the letting of property or land without significant additional services is considered to be an 'investment activity'.

If BR applies then: property and buildings, unlisted shares and machinery can be transferred on death or during lifetime.

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Will my business assets be subject to Inheritance Tax? - news article image

Author:

David Rickwood

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