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Business Property Relief (BPR)

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Business Property Relief (BPR) What is BPR? A relief applied to business property and can provide up to 100% relief from Inheritance Tax. There are a number of conditions which are required to be met: The business must be a qualifying business, The business must be what is referred to as ‘relevant business property’, and; Ownership conditions must be fulfilled. The business must be a trading business rather than an investment business and therefore must meet the ‘wholly and mainly’ test of trading, meaning that the business must not consist wholly or mainly of the making or holding of investments. In other words; businesses which deal in securities, stocks and shares or in land and buildings such as buy-to-let portfolios will not attract the relief. Property developing itself may attract the relief but the renting out of property is an investment activity therefore making it a mixed business and if…

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