Inheritance advice on Business assets
It is important to understand what IHT relief you will obtain on your business assets and interests.
You obtain 100% Business Relief on:
- A business or interest in a business
- Shares in an unlisted company
You can get 50% Business Relief on:
- Shares controlling more than 50% of the voting rights in a listed company
- Land, buildings or machinery owned by the deceased and used in a business they were a partner in or controlled
- Land, building or machinery used in a business and held in a trust that has the right to benefit from
The key with planning with this is to review your IHT position early and keep reviewing your strategy.