Commentary

I7.140 Minimum period of ownership for BPR generally

IHT, trusts and estates

I7.140 Minimum period of ownership for BPR generally

Ownership requirements

I7.140 Minimum period of ownership for BPR generally

Property is not relevant business property unless the transferor owned it1:

  1.  

    •     throughout the two years immediately preceding the transfer, or

  2.  

    •     and any other relevant business property it replaced, for a total of two years out of the five years immediately before the transfer (see I7.150)

The nature of the business carried on by the business property does not have to be the same throughout the two-year period, but there must have been a business throughout that period2. The individual assets of the business do not have to have

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