Tax planning to protect a family business
Advising a husband and wife who each owned substantial shareholdings in a family business, in connection with structuring their wills so as to maximise the benefit that might be achieved from business property relieve (BPR). Any business asset which qualifies for BPR will attract inheritance tax relief at 50% or 100% and is therefore a valuable relief for business owners, potentially enabling business assets to pass tax free to the next generation.
