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Inheritance Tax Made Simple by Andrew Komarnyckyj

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1.17 Reliefs available in respect of inheritance tax

Some forms of property are given reliefs from inheritance tax.

1.17.1 Business property relief (BPR)

Business property relief (usually referred to as ‘BPR’) is given to business property and can provide up to 100% relief from inheritance tax. In other words, the inheritance tax that would otherwise be payable on the value of business property and assets is reduced to nil. If you are a business owner, you cannot, however, assume that your business will attract the relief; there is a host of conditions to be met:

  1. the business must be a qualifying business
  2. the business property must be what is referred to as “relevant business property”; and
  3. there is an ownership condition that has ...

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