Angela Lazda UK Head of Tax for Horwath Clark Whitehill and Deepak Malhotra tax adviser to the firm's OMB clients comment on how business property relief can be used to save inheritance tax
Despite the Chancellor's recent attacks against many inheritance tax (IHT) planning strategies through the proposed pre-owned assets legislation owner-managers are at least still in a position to use business property relief (BPR) as a legitimate tool to claim IHT relief of up to 100%.
General principles
The rationale behind this relief is to encourage and protect investment in risk-taking family trading ventures by allowing them to be passed on from generation to generation relatively intact. If the relief did not exist...
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Angela Lazda UK Head of Tax for Horwath Clark Whitehill and Deepak Malhotra tax adviser to the firm's OMB clients comment on how business property relief can be used to save inheritance tax
Despite the Chancellor's recent attacks against many inheritance tax (IHT) planning strategies through the proposed pre-owned assets legislation owner-managers are at least still in a position to use business property relief (BPR) as a legitimate tool to claim IHT relief of up to 100%.
General principles
The rationale behind this relief is to encourage and protect investment in risk-taking family trading ventures by allowing them to be passed on from generation to generation relatively intact. If the relief did not exist...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
