Business Relief, introduced by the UK government in 1976, is a relief that can reduce the value of a business or its assets when working out how much Inheritance Tax is payable on an estate.
As a result of more dynamic family structures and individuals increasingly owning more assets than ever before, it may not come as a surprise that inheritance disputes have been on the rise since 2015.
A gift is anything that has value, such as money, household and personal goods, property, stocks and shares listed on a Stock Exchange, and unlisted shares held for less than two years before death.
Inheritance Tax (IHT) can be a difficult concept to comprehend. To put it simply, IHT is a tax that is paid upon an estate of someone who has died, however, it does not apply to all estates.
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