Commentary

I7.112E BPR for transferor's property used by his firm

IHT, trusts and estates

I7.112E BPR for transferor's property used by his firm

I7.112E BPR for transferor's property used by his firm

Land or buildings, machinery or plant (referred to here as land etc) which, immediately before the transfer, was used mainly for the purposes of a business carried on by a company controlled by the transferor or by a partnership of which he was then a partner1, can qualify for business property relief at 50%. This is the rate in relation to transfers and other events after 9 March 19922. For its application to the IHT or additional IHT chargeable on the death of a transferor after 9 March 1992 in respect of pre 10 March 1992 transfers see I7.101. Whether the land etc is used for the purposes of the business is a factual

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