Glossary - Business property relief (BPR)
Description
Business property relief (BPR) is a UK inheritance tax relief that reduces the taxable value of qualifying business assets, often by 50% or 100%, when they are transferred either during lifetime or on death. It is intended to support business continuity by preventing the forced sale of businesses to meet inheritance tax liabilities.
Alternate Names
- Inheritance tax (IHT)
- Qualifying business assets
- Trading company
- Agricultural property relief (APR)
- Unquoted shares
