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:
What is business property relief ("BPR") ?
This article sets out the basics in relation to the relief and the type of businesses that might qualify.
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In addition to being relevant business property at the relevant time, the asset must also have attained the required holding period.
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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.
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The value of any relief on shares may be reduced by the presence of excepted assets.
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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.
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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.
