Agricultural Relief
What is deemed to be Agricultural Property? You can pass on some agricultural property free of Inheritance Tax, either during your lifetime or as part of your will. Agricultural property that qualifies for Agricultural Relief is land or pasture that is used to grow...
What is Inheritance Tax?
Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who’s died. How much is Inheritance Tax? There is normally no tax to be paid if: $ The value of your estate is below the Nil-Rate Band of £325,000, or $ You leave everything above...
What is Business Property Relief?
Business Property Relief was introduced by the government in 1976. Back then, its main aim was to ensure that after the death of the owner, a family business could survive, without having to be sold or broken up to pay an inheritance tax liability. Since then,...