The following Trusts and Inheritance Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
Business property relief (BPR) is likely to be one of several factors considered when deciding whether to acquire or hold the trading premises personally or through the owner-manager’s company.
For further information on ownership issues for the owner-manager, see the Personal or company ownership guidance note in the OMB module.
For a discussion of the basic principles of BPR, see the BPR overview guidance note.
The following points need to be considered from a BPR perspective.
Personally-owned land and buildings used wholly or
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Tax professionals will often be asked to provide input into the financial statement work undertaken by audit professionals. This guidance note is intended to give an overview of some of the key issues when undertaking audit work.This note is an introduction only and is written on the assumption that
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