Trusts and Inheritance Tax

BPR ― acquiring premises

Produced by Tolley
  • 19 Oct 2021 23:07

The following Trusts and Inheritance Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:

  • BPR ― acquiring premises
  • BPR implications for owner managers
  • Personally-owned land and buildings
  • Company held land and buildings
  • Planning issues
  • Property held by partnerships

BPR ― acquiring premises

BPR implications for owner managers

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

Personally-owned land and buildings used wholly or mainly for the purposes of a company’s business will qualify for 50% BPR, provided the owner-manager controls the relevant company.

The 50% BPR is given irrespective of whether the owner-manager charges a market rent for the

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