A guide to what Business Property Relief is, when it can apply, and pitfalls and planning points.

Login or subscribe to read more...

Comments (2)

Rated 0 out of 5 based on 0 voters
This comment was minimized by the moderator on the site

What is the tax or case law supporting the "bold statement", BPR is given only for the transfer of the business as a whole.

Surely on death of a sole trader BPR is always available for land or buildings, machinery or plant used wholly or mainly...

What is the tax or case law supporting the "bold statement", BPR is given only for the transfer of the business as a whole.

Surely on death of a sole trader BPR is always available for land or buildings, machinery or plant used wholly or mainly for the purposes the sole trade, as there is by virtue of the death a transfer of the whole business, even if the executors choose to split up the assets of the business after probate has been granted.

What about the lifetime gift of part of the business, e.g.. when admitting a partner and gifting them a share of business assets. Here the "whole" business is not being transferred but a part of the whole. BPR is surely available here.

Read More
Guest
This comment was minimized by the moderator on the site

Sole traders

No BPR is given for land or buildings, machinery or plant used wholly or mainly for the purposes of a sole trader business.
BPR is given only for the transfer of the business as a whole

This is a pretty blunt statement. Is it...

Sole traders

No BPR is given for land or buildings, machinery or plant used wholly or mainly for the purposes of a sole trader business.
BPR is given only for the transfer of the business as a whole

This is a pretty blunt statement. Is it really the case that a building used in a hairdressing salon is not eligible for BPR unless the business vehicle was in the form of a partnership or owned by a limited company. That doesn't seem to make sense

Read More
Guest
There are no comments posted here yet

Leave your comments

  1. Posting comment as a guest.
Rate this post:
Attachments (0 / 3)
Share Your Location

 

Enjoying the Practical Tax content on www.rossmartin.co.uk? 

Sign up now to receive a unique FREE Tax Planning Tips and Advice Guide & our FREE Newsletter.

.Squirrel ad