An inheritance tax relief available on certain types of business property. For an interest in an unlisted business, including a partnership share, the relief is 100%. Land or buildings owned and used in a company under the control of the donor, or a partnership in which the donor was a partner, attract 50% relief. A majority controlling interest in a listed company also attracts 50% relief. For shares in an unlisted company the rate is 100%.
Subjects: Financial Institutions and Services.