HMRC fail to unseat “DIY-plus” horse livery services’ IHT business property relief

The upper tribunal (UT) has turned down HMRC’s appeal in Vigne against the First-tier Tribunal (FTT) decision that “DIY-Plus” livery services provided to clients who stabled their horses with the late Mrs. Vigne were enough for inheritance tax (IHT) business property relief...

Hastings-Bass was the solvent that unstuck a sticky IHT situation

Power Adhesives Ltd. almost came unstuck when, under the guidance of their advisers, the Company adopted an inappropriate arrangement to remove the possible problem of having to repay a director’s loan account on death. The arrangement made, for non-tax reasons,...

No IHT Business Property Relief for industrial units lettings business

Best (Buller’s executor) v RCC (UKFTT 03217) follows the example set in HMRC v Lockyer, executor of Pawson in refusing BPR on a property letting business. Best differs from Lockyer  in facts but not in principle. The differences are that:...

Availability of IHT Business Property Relief

The professional bodies have issued a technical release on the availability of BPR in two situations. Firstly, where shares in unquoted trading companies are held by partnerships or LLPs. Secondly, where surplus cash is held by businesses and companies, which...