Hi,
I'm trying to get an answer on a specific scenario regarding BPR and IHT.
If the sole director of a Ltd company dealing only in property trading passes away, are his company and the assets (for the sake of this say £10m in a business account) exempt from IHT under BPR?
I've read that the funds would have to be seen as being entirely used for business trade but would every penny in the trading account be seen as this due to the nature of the business?
Thanks.
I'm trying to get an answer on a specific scenario regarding BPR and IHT.
If the sole director of a Ltd company dealing only in property trading passes away, are his company and the assets (for the sake of this say £10m in a business account) exempt from IHT under BPR?
I've read that the funds would have to be seen as being entirely used for business trade but would every penny in the trading account be seen as this due to the nature of the business?
Thanks.
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