Commentary

I1.546 Business relief

IHT, trusts and estates

I1.546 Business relief

I1.546 Business relief

The assets qualifying for this relief after 5 April 1996 and the amounts of relief conferred in relation to them, subject to the overriding restrictions referred to below, are1:

  1.  

    (a)     Businesses and interests in businesses, eg a sole proprietor's business, or a partnership share (see I7.111). The rate of relief is a 100% reduction in value for IHT charging purposes2.

  2.  

    (b)     Unquoted securities of a company in relation to which the transferor has control (see I7.112D). Again the relief is 100%.

  3.  

    (c)     Unquoted shares in any company. The relief is 100% (see I7.112B).

  4.  

    (d)     Voting quoted shares

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