Business property relief (BPR) is a relief that reduces the value of property on which IHT is charged. The reduction will generally be available where a transfer of business property is made.

The reduction will be at a rate of 50% or 100%, depending upon the type of business property concerned.

BPR is given automatically and it is not necessary to make a formal claim in order for BPR to apply. However, an intention to deduct BPR from the value of qualifying assets must be indicated on the inheritance tax account form IHT413.