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Business property relief (BPR) is an attractive relief. None more so than for unquoted shares in trading companies where the headline rate of relief is 100% of the value of the shares.
We have developed a number of articles that clarify the basics, and some of the wrinkles, of this desirable relief.
Our articles consider:
This article sets out the basics in relation to the relief and the type of businesses that might qualify.
In addition to being relevant business property at the relevant time, the asset must also have attained the required holding period.
It is not only individuals who are running their own businesses or hold shares in their own business who might qualify for business property relief, In addition, it is possible for a taxpayer to obtain relief by investing in AIM shares or other qualifying investments.
The value of any relief on shares may be reduced by the presence of excepted assets.
This is one of the battlegrounds for the relief and reflects the unusual status of FHL portfolios as primarily an investment play but, in some cases, can be regarded as a trading venture and therefore might secure relief.
Like furnished holiday lets, this is a fertile area for HMRC intervention. If you are the owner of a caravan park then please do get on touch.
If you have any queries at all regarding the topics in this signpost then please do get in touch.
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