There are several reliefs available for businesses depending on whether they are trading and investment businesses. This document discusses about the various reliefs available for relevant property businesses. This also covers the meaning of non-qualifying investment activities, exemptions available for qualifying holding companies, excepted assets and determining BPR status of certain corporate structures..
Points discussed within this guidance note:
The basic qualification rules for business property relief (BPR) are illustrated in the Flowchart - trading or investment business for BPR purposes, and looks at what are business property relief investments and excepted assets.
> Relevant business property
This note sets out how to ascertain whether a business qualifies for business property relief and will depend on the type of business, and if dealing in shares, land or investments, whether the business is wholly or mainly concerned with this for an exemption to apply.
> Non-qualifying investment activities
If the business is of the type to be a non-qualifying investment, in determining whether a business qualifies for BPR, it is necessary to look at the nature of the business activities 'in the round'.
> Furnished holiday lets
> Other land-based businesses
> Exemption for qualifying holding companies
> Excepted assets
> Determining BPR status of certain corporate structures
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