Business Relief

Minimum ownership period of business property

The person making the gift or inheritance must have owned the relevant business property for a continuous period of at least:

  • in the case of an inheritance, which is taken on the death of the disponer, two years immediately prior to the date of the inheritance
  • or
  •  in any other case, five years immediately prior to the date of the gift or inheritance.

The minimum ownership requirement can be partially met if that property was owned by either:

  • the person's spouse or civil partner
  • a trustee.

Next: Circumstances in which relief can be withdrawn