In John Best v HMRC (TC03217 – 13 January 2014) the issue was whether shares forming part of the deceased’s estate benefitted from business property relief (BPR) for IHT purposes. BPR was not available if the business of the company consisted wholly or mainly of the holding of investment (IHTA 1984 s 104).
The company owned and managed a ‘business centre’ which comprised land and buildings occupied for office and light industrial use. Businesses occupying the business centre under licences benefitted from the services of a receptionist and could also (for an additional fee) hire the services of a fork-lift truck.
Referring to IRC v George (exors of Stedman decd) [2003] EWCA Civ 1763 the tribunal thought that it must consider ‘the nature and extent of the additional services and their contribution to the business’ both qualitatively and quantitatively.
The tribunal...
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In John Best v HMRC (TC03217 – 13 January 2014) the issue was whether shares forming part of the deceased’s estate benefitted from business property relief (BPR) for IHT purposes. BPR was not available if the business of the company consisted wholly or mainly of the holding of investment (IHTA 1984 s 104).
The company owned and managed a ‘business centre’ which comprised land and buildings occupied for office and light industrial use. Businesses occupying the business centre under licences benefitted from the services of a receptionist and could also (for an additional fee) hire the services of a fork-lift truck.
Referring to IRC v George (exors of Stedman decd) [2003] EWCA Civ 1763 the tribunal thought that it must consider ‘the nature and extent of the additional services and their contribution to the business’ both qualitatively and quantitatively.
The tribunal...
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