Business Property Relief Archives

Funding Your Business’ Needs

If your business is performing well and making a healthy profit, you may be looking at funding options to grow and develop your business. It’s also important to ensure that you are making the most of the available tax reliefs and incentives. Here we consider some key...

Taxpayer Victory: Tribunal Grants Inheritance Tax Relief to Livery

Tax

Business Property Relief (BPR) can exempt assets from Inheritance Tax (IHT) on the basis that they were used in a genuine business, assuming all other qualifying criteria is met. It is not available where the business activity is wholly or predominantly holding...

Your Redundant Farm Building could be Restricting your Inheritance Tax Relief

Advice, HMRC, Property, Tax

Agricultural Property Relief (APR), if obtained, allows an individual to pass on agricultural property, either in their Will or during their lifetime, free of Inheritance Tax (IHT). Business Property Relief (BPR) reduces the IHT payable on a wider class of qualifying...

Estate Planning and Farmhouses

Advice, Business Support, HMRC, Tax

Most land owners are aware of Agricultural Property Relief (APR) and could be forgiven for thinking that this means there is no risk of their Estate paying Inheritance Tax. Unfortunately there have been cases where the HM Revenue & Customs have successfully...

Will Your Farm Buildings Still Qualify As Agricultural Property?

Advice, Business Support, HMRC, Tax

As you may be aware, a new amendment to planning laws in England allows farm buildings to be re-developed into dwellings in certain circumstances, without requiring special planning permission. Good news for farmers, you might think, but beware! The effect is that...

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