Changes to business property relief (BPR)
The proposed cap on full relief from inheritance tax for business owners has spurred conversations about succession planning. If you have not already started discussions, we encourage you to do so now. We can work with you to identify the best solution for your circumstances.
Planning for the next generation
Succession planning is crucial to any business, and particularly for family-owned businesses. Often, though, inheritance tax has not been seen as an issue because business property relief (aka BPR) provides 100% relief for business owners in most situations. This has allowed business owners to hold onto their businesses until death, and to potentially put off succession planning. The announcement at last year’s Budget to restrict BPR means that many owners should act now.
