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On each occasion of a 10-year charge, relevant property is taxed at a maximum rate of 6%. The rate is calculated as 30% of the “effective rate”, which is itself determined by performing an...
Business property relief (BPR) (¶59050+) and agricultural property relief (APR) (¶59295+) reduce the value transferred. For chargeable trusts, there are two ways in which the amount of tax...
The usual IHT reliefs are available, including business property relief (¶59050+) and agricultural property relief (¶59295+), where the life tenant fulfilled the relevant conditions.