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HMRC internal manual

Inheritance Tax Manual

From
HM Revenue & Customs
Updated
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Section 25 public: Business relief and businesses: Contents

 

 

 

Introduction
  1. IHTM25001
    Introduction
Investigating business relief and businesses
  1. IHTM25011
    Investigating business relief and businesses: Introduction
  2. IHTM25012
    Investigating business relief and businesses: Reviewing form IHT413 or D38
Investigation in 100% relief cases
  1. IHTM25021
    Investigation in 100% relief cases: Introduction
Valuing businesses and partnerships
  1. IHTM25051
    Valuing businesses and partnerships: What is a business?
  2. IHTM25052
    Valuing businesses and partnerships: Business accounts
  3. IHTM25053
    Valuing businesses and partnerships: liabilities - restricted reductions.
  4. IHTM25060
    Valuing businesses and partnerships: Business terms
Valuing businesses and partnerships: Valuing the business
  1. IHTM25081
    Valuing businesses and partnerships: Valuing the business: Investigating the profit and loss account
  2. IHTM25082
    Valuing businesses and partnerships: Valuing the business: Investigating the balance sheet
  3. IHTM25083
    Valuing businesses and partnerships: Valuing the business: Adjusting the capital account
Valuing businesses and partnerships: What is a partnership
  1. IHTM25091
    Valuing businesses and partnerships: What is a partnership: Introduction
  2. IHTM25092
    Valuing businesses and partnerships: What is a partnership: Investigating partnership deeds
  3. IHTM25093
    Valuing businesses and partnerships: What is a partnership: Cases where there are no deeds
  4. IHTM25094
    Valuing businesses and partnerships: What is a partnership: Limited liability partnerships
Valuing businesses and partnerships: Valuing the partnership interest
  1. IHTM25101
    Valuing businesses and partnerships: Valuing the partnership interest: Introduction
  2. IHTM25102
    Valuing businesses and partnerships: Valuing the partnership interest: Partnership share
  3. IHTM25103
    Valuing businesses and partnerships: Valuing the partnership interest: The balance sheet
  4. IHTM25104
    Valuing businesses and partnerships: Valuing the partnership interest: Freehold and leasehold property
  5. IHTM25105
    Valuing businesses and partnerships: Valuing the partnership interest: Agricultural land tenanted by a partnership
  6. IHTM25106
    Valuing businesses and partnerships: Valuing the partnership interest: Agricultural land owned by deceased and occupied by a partnership
  7. IHTM25107
    Valuing businesses and partnerships: Valuing the partnership interest: Milk quotas
  8. IHTM25108
    Valuing businesses and partnerships: Valuing the partnership interest: Goodwill
  9. IHTM25109
    Valuing businesses and partnerships: Valuing the partnership interest: Livestock
  10. IHTM25110
    Valuing businesses and partnerships: Valuing the partnership interest: Other assets
  11. IHTM25111
    Valuing businesses and partnerships: Valuing the partnership interest: Sales
  12. IHTM25112
    Valuing businesses and partnerships: Valuing the partnership interest: Income Tax
Valuing businesses and partnerships: Valuing businesses and partnerships
  1. IHTM25120
    Valuing businesses and partnerships: Valuing businesses and partnerships: Fetters
  2. IHTM25121
    Valuing businesses and partnerships: Valuing businesses and partnerships: Relationship between business and agricultural relief
  3. IHTM25122
    Valuing businesses and partnerships: Valuing businesses and partnerships: Instalments
  4. IHTM25123
    Valuing businesses and partnerships: Valuing businesses and partnerships: Partnerships and lifetime transfers
Business relief
  1. IHTM25131
    Business relief: Outline of business relief
Business relief: Relevant Business Property
  1. IHTM25141
    Business relief: Relevant Business Property: Investigating Relevant Business Property
Business relief: Relevant Business Property: Business interests
  1. IHTM25151
    Business relief: Relevant Business Property - business interests: Rate of relief
  2. IHTM25152
    Business relief: Relevant Business Property - business interests: Property consisting of a business or a business interest
  3. IHTM25153
    Business relief: Relevant Business Property - business interests: Meaning of 'business'
  4. IHTM25154
    Business relief: Relevant Business Property - business interests: Settled property
Business relief: Shareholdings: Unquoted securities - control holding
  1. IHTM25171
    Business relief: Shareholdings - unquoted securities - control holding: Securities within s.105(1)(b)
  2. IHTM25172
    Business relief: Shareholdings - unquoted securities - control holding: When is the transferor required to have control?
Business relief: Shareholdings: Other holdings of unquoted shares
  1. IHTM25191
    Business relief: Shareholdings - other holdings of unquoted shares: Rate of relief
  2. IHTM25192
    Business relief: Shareholdings - other holdings of unquoted shares: Meaning of unquoted for business relief purposes
Business relief: Shareholdings: Control holdings of quoted shares or securities
  1. IHTM25201
    Business relief: Shareholdings - control holdings of quoted shares or securities: Rate of relief
  2. IHTM25202
    Business relief: Shareholdings - control holdings of quoted shares or securities: Transfers and shares within s.105(1)(cc)
Business relief: Relevant Business Property: Land and buildings, machinery and plant
  1. IHTM25221
    Business relief: Relevant Business Property - land and buildings, machinery and plant: Rate of relief
  2. IHTM25222
    Business relief: Relevant Business Property - land and buildings, machinery and plant: Property within s.105(1)(d)
  3. IHTM25223
    Business relief: Relevant Business Property - land and buildings, machinery and plant: Additional user requirement
  4. IHTM25224
    Business relief: Relevant Business Property - land and buildings, machinery and plant: Transferor’s interest in the occupying company or partnership
  5. IHTM25225
    Business relief: Relevant Business Property - land and buildings, machinery and plant: Property used by a partnership
  6. IHTM25226
    Business relief: Relevant Business Property - land and buildings, machinery and plant: Settled property
  7. IHTM25227
    Business relief: Relevant Business Property - land and buildings, machinery and plant: Machinery or plant
Business relief: Relevant Business Property: Settled property used in the life tenant's business
  1. IHTM25241
    Business relief: Relevant Business Property - settled property used in the life tenant's business: Rate of relief
  2. IHTM25242
    Business relief: Relevant Business Property - settled property used in the life tenant's business: Property within s.105(1)(e)
  3. IHTM25243
    Business relief: Relevant Business Property - settled property used in the life tenant's business: Scope of s.105(1)(e) in practice
Business relief: Other Relevant Business Property
  1. IHTM25250
    Business relief: Other Relevant Business Property: Partnership interests
  2. IHTM25251
    Business relief: Relevant Business Property: Woodlands syndicates
Business relief: Investment businesses
  1. IHTM25261
    Business relief: Investment businesses: Introduction
  2. IHTM25262
    Business relief: Investment businesses: Exceptions
  3. IHTM25263
    Business relief: Investment businesses: Holding companies
  4. IHTM25264
    Business relief: Investment businesses: Holding company and LLP examples
  5. IHTM25265
    Business relief: Investment businesses: Wholly or mainly
  6. IHTM25266
    Business relief: Investment businesses: Property based businesses
Business relief: Investment businesses: (Continued...)
  1. IHTM25271
    Business relief: Investment businesses: Property letting
  2. IHTM25272
    Business relief: Investment businesses: Property consisting of a business
  3. IHTM25273
    Business relief: Investment businesses: Meaning of 'investment'
  4. IHTM25274
    Business relief: Investment businesses: Land as a business asset
  5. IHTM25275
    Business relief: Investment businesses: Lettings of commercial premises
  6. IHTM25276
    Business relief: Investment businesses: Furnished lettings
  7. IHTM25277
    Business relief: Investment businesses: Hotels, Bed and Breakfast, Residential Homes and other accommodation
  8. IHTM25278
    Business relief: Investment businesses: Holiday lettings
  9. IHTM25279
    Business relief: Investment businesses: Caravan sites
  10. IHTM25280
    Business relief: Investment businesses: Other lettings
Business relief: Contracts for sale
  1. IHTM25291
    Business relief: Contracts for sale: Introduction
  2. IHTM25292
    Business relief: Contracts for sale: Shareholdings and partnership interests
Business relief: The ownership test
  1. IHTM25301
    Business relief: The ownership test: Introduction
  2. IHTM25302
    Business relief: The ownership test: Meaning of ownership
  3. IHTM25303
    Business relief: The ownership test: Changes in the nature of the business
Business relief: Replacement property
  1. IHTM25310
    Business relief: Replacement property: Introduction
  2. IHTM25311
    Business relief: Replacement property: Conditions
  3. IHTM25313
    Business relief: Replacement property: Limitation of relief
  4. IHTM25314
    Business relief: Replacement property: Minority holdings of unquoted shares
Business relief: Successions
  1. IHTM25321
    Business relief: Successions: Introduction
Business relief: Successive transfers
  1. IHTM25331
    Business relief: Successive transfers: Introduction
  2. IHTM25333
    Business relief: Successive transfers: Limitation of relief
Business relief: Assets excluded from relief
  1. IHTM25341
    Business relief: Assets excluded from relief: Introduction
  2. IHTM25342
    Business relief: Assets excluded from relief: Assets not used in the business
Business relief: Assets excluded from relief: Excepted assets
  1. IHTM25351
    Business relief: Assets excluded from relief - excepted assets: Introduction
  2. IHTM25352
    Business relief: Assets excluded from relief - excepted assets: Future use
  3. IHTM25353
    Business relief: Assets excluded from relief - excepted assets: Assets used for personal benefit
  4. IHTM25354
    Business relief: Assets excluded from relief - excepted assets: Part business use of land or buildings
Business relief: Lifetime transfers - additional conditions
  1. IHTM25361
    Business relief: Lifetime transfers - additional conditions: Introduction
  2. IHTM25363
    Business relief: Lifetime transfers - additional conditions: The two conditions
  3. IHTM25364
    Business relief: Lifetime transfers - additional conditions: Continuing ownership
  4. IHTM25365
    Business relief: Lifetime transfers - additional conditions: Remaining business property
  5. IHTM25366
    Business relief: Lifetime transfers - additional conditions: Transfers of shares and securities
  6. IHTM25367
    Business relief: Lifetime transfers - additional conditions: The transferee
  7. IHTM25368
    Business relief: Lifetime transfers - additional conditions: Failure to satisfy the conditions
  8. IHTM25369
    Business relief: Lifetime transfers - additional conditions: Replacement property
  9. IHTM25370
    Business relief: Lifetime transfers - additional conditions: Replacement property (additional rule for shares or securities)
Business relief: Gifts with reservation
  1. IHTM25381
    Business relief: Gifts with reservation: Introduction
  2. IHTM25382
    Business relief: Gifts with reservation: Notional transfer
  3. IHTM25383
    Business relief: Gifts with reservation: Rate of relief
  4. IHTM25384
    Business relief: Gifts with reservation: Replacement property