Business Property Relief

Business Property Relief is a valuable tax relief available to major shareholders and business owners of trading companies at the point of succession planning or death.

Many company directors believe they will be exempt from Inheritance Tax.

However, as businesses grow and expand, the simple trading business model, morphs and changes for valid commercial or personal reasons.   At these critical points, it is important to be aware of the implications for Inheritance Tax as your family could discover to its huge cost what you didn’t realise whilst you were alive.

There are almost always ways to ensure that your structure can work for your business whilst you are alive as well as for those you leave behind.

As ever, getting the right advice early on can avoid shocks when they are too late to remedy.

How we’ve helped:

• We have helped a family business in the property development sector consider the benefits of using family monies to finance growth rather than rely on external debt.
• We have improved the availability of BPR for a wealthy family in the services office sector by considering asset ownership structures and the inheritance tax efficiency of the alternatives.
• We have advised on the impact of ownership of non-trading assets within the trading structure of a professional practice and provided solutions to identified tax inefficiencies in order to maximise availability of BPR.