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Business Relief

  1. Overview
  2. What are the conditions for Business Relief?
  3. What is relevant business property?
  4. Businesses which do not qualify for relief
  5. How do you calculate the relief amount?
  6. Minimum ownership period of business property
  7. Circumstances in which relief can be withdrawn
  8. How do you claim Business Relief?

Circumstances in which relief can be withdrawn

Relief on relevant business property can be fully or partially withdrawn if:

  • the business ceases to trade within six years of the date of the gift or inheritance
  • the relevant business property is sold, redeemed or compulsorily acquired within six years of the date of the gift or inheritance. If this property is replaced within one year, the relief will not be withdrawn.
  • or
  • the relevant business property comprises development land and is disposed of within ten years of the date of the gift or inheritance.

Relief will not be withdrawn where a business ceases trading because of bankruptcy or winding-up on the grounds of insolvency.

Next: How do you claim Business Relief?

Published: 19 June 2023 Print this page

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