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Inheritance Tax - Business Reliefs

If you are a partner in a business or a sole trader, no Inheritance Tax would normally be payable if you give away your interest in your business. This may not apply to cash held in a business. A controlling interest in an unincorporated business, or a share in a partnership, or a shareholding in unlisted companies, such as those quoted on the Alternative Investment Market, attracts 100% relief, provided that you have held the shares for at least two years. 50% relief can be obtained on land or equipment, which is used for a qualifying business.

Qualifying businesses are those carried on for profit, ones which deal mainly in securities, land or buildings do not normally qualify.