View from the Bridge
Are AIM shares eligible for Business Relief? – July 2019
On the 5th of July, the Office for Tax Simplification (“OTS”) published the second of two reports covering a review of Inheritance Tax (“IHT”). The first report, published in November 2018, was titled “Overview of the Tax, and Dealing with Administration”1 and addressed the practical complexities of IHT.
The second report has been widely anticipated, particularly with regard to the potential impact which it may have on the trades which would be considered qualifying for BPR. At over 100 pages, spanning twelve chapters and covering as many topics, the document is comprehensive. For those advising within this space, it would be instructive to undertake a full examination of the document. There are a handful of points that have received most of the attention and are illustrated below: