Business Property Relief: Tips, Traps and Planning

A Tips & Advice Special Report about...

In a nutshell

This Special Report provides an in-depth look at business property relief and explains how to mitigate inheritance tax exposure. We examine the qualifying conditions in the context of real-world scenarios so that they are easy to follow and apply in practice. We also look at practical planning to help maximise your after-tax legacy. Plus, it’s fully up to date with all the latest information so you can rest assured that you're not missing out on any new opportunities.

In detail

This Special Report tackles such issues as lifetime gifts and the reservation of benefit rules, succession planning, double dipping and other strategies. In plain English, it helps you make sense of this complex subject and provides you with clear-cut answers to a range of questions such as:

• What is a business for IHT purposes?
• What rate is relief given at?
• How does relief apply to shares?
• Can a property business ever qualify?

Written by leading experts, this Special Report covers all that you realistically need to know about business property relief. Use it to utilise the relief to its full effect, thereby saving tax. Don't miss out!

We've created this Tips & Advice Special Report especially for... 

Business owners, company directors and anyone that wants to:

• Slash inheritance tax risk with business property relief
• Maximise their after-tax legacy

Tax advisors that want to:

• Advise their clients how to utilise business property relief to its full effect

You'll get the following free extras with this Tips & Advice Special Report... 

An online service with ready-to-use documents

• To immediately apply our advice and solutions in practice
• That you can easily adapt to suit your own requirements

In this Tips & Advice Special Report you'll read about...

1. Inheritance tax basics

1.1. How is IHT charged?

1.2. What is the NRB?

1.3. How does lifetime gifting work?

1.4. What important reliefs exist?

2. What qualifies as a business for IHT purposes?

2.1. What does business property include?

2.2. What is a “business”?

2.3. What do the courts say?

2.4. What does unquoted mean?

2.5. How is relief given?

2.6. Sample IHT calculation - relief at 100%

2.7. Sample IHT calculation - relief at 50%

2.8. Can I borrow money to buy BPR qualifying assets?

3. The qualifying conditions

3.1. What is the relevant business property requirement?

3.2. What is the minimum period of ownership requirement?

3.3. What is the contracts for sale requirement?

3.4. What is the excepted assets requirement?

4. Lifetime transfers and BPR

4.1. What about gifts made during my lifetime?

4.2. What are the additional conditions?

4.3. Do the provisions for replacement property apply?

4.4. What if the original transfer wasn’t a PET?

4.5. What is a gift with a reservation of benefit and how does this affect business property?

5. Can a property rental business ever qualify?

5.1. What about buy-to-lets?

5.2. Are there special rules for furnished holiday lettings?

5.3. What about campsites and caravan parks?

6. IHT planning with BPR

6.1. What is double dipping?

6.2. Can I preserve BPR after a sale?

6.3. Will money I lend to my company qualify for BPR?

6.4. I’ve heard there are problems with using borrowings to fund investments?

6.5. Can I use my own assets in a business to shelter them from IHT?

6.6. I want to give my company shares to my children now to secure BPR but am concerned about their management. What could I do?

6.7. I am a partner and retiring soon. Will I lose out on BPR?

6.8. What about sole traders?

6.9. How can I obtain protection from IHT quickly?

7. Appendix

7.1. HMRC Guidance: SVM111220

8. Documents

8.1. Company trading status report

8.2. IHT spouse’s domicile election

8.3. Company’s option to buy/sell shares clause

8.4. Deed of variation

8.5. Holdover relief claim

8.6. Transferable nil rate band checklist

You can choose from the following options...

Paper

• The hard copy version
• Keep it on your desk or use it whenever you're offline

Digital

• The PDF-version
• Delivered to your inbox

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