Commentary

I12.714 Business and agricultural property

IHT, trusts and estates

I12.714 Business and agricultural property

I12.714 Business and agricultural property

Assets which qualify for either of the 100% business or agricultural property reliefs (I7.1, I7.3) will not cause any inheritance tax liability to arise if they are transferred into a relevant property trust, but of course there is not necessarily any incentive to do so because they are effectively free of inheritance tax in any event. If however the assets concerned are shares in the family trading company, and a sale of the company is to be arranged in due course, the opportunity could be taken to transfer some of the shares into a family

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial