Why business relief exists?
Business relief consists of those investments that can be passed on for free from inheritance taxes. This happens usually after the investor dies and the shares have at least been owned for two years at the time. Why Business Relief exists? Business relief previously known as Business property relief since its introduction in the 1976 Finance Act has come a long way. The main aim during that time was to ensure that after the owner dies, the family-owned business could make its survival as a trading firm. This will help the business from getting sold or broken due to the inheritance tax liability. With time, the governments have understood the value of motivating people to invest in a trading businesses. This is regardless of whether they run the business on their own or with someone else. Business property relief has been in existence for the past forty years. However, one must always remember that the value that investment has might go down or...