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Business property relief (BPR) reduces the value of a transfer for IHT purposes on both life and death transfers, and relief is given automatically, before other reliefs and exemptions. Any tax remaining...
You might have heard that transferring ownership of your personal investments to your business can shelter them from inheritance tax (IHT). In theory it’s possible but you actually run the...
One of your clients owns a trading company which is about to make an investment into a joint venture. They have asked for your advice as to whether this could jeopardise business property relief....
5. Can a property business ever qualify?A business whose activities are wholly or mainly holding or making investments does not qualify for BPR. HMRC takes the view that most property businesses...
Business property relief shelters the value of your business from the Taxman. The trouble is when you retire from your unincorporated business the relief disappears immediately. How can you preserve it?
One of your clients owns a successful trading company. He is looking to purchase three investment properties to let out, and wants advice on whether to use the company to do so. How could this...
A client's family business can often grow to reach a substantial value before their death. Many clients will assume that relief is available to exempt it from inheritance tax - but things are...
Transferring your sole-trader business to a company can save you income tax. However, there are other taxes to consider, e.g. inheritance tax, for which the outcome can be costly. What steps...
It’s time to pass the family business on to the next generation. This can be disruptive and have unwanted inheritance tax consequences. How can you reduce the risk?
Husband and wife clients have received an offer for the sale of their trading company. They are hoping to use some of the proceeds to provide for their family. What pre-sale planning can be done...