Course description
APR and BPR are the two most valuable reliefs from Inheritance Tax (‘IHT’).
A detailed knowledge of what property or activity qualifies for relief and the circumstances in which relief can be limited or clawed back is vital to many estate planning decisions.
This virtual classroom seminar with Giles Goodfellow KC will cover the conditions for each relief, activities qualifying as occupation for agricultural purposes, what businesses are excluded from BPR, the impact of the 2024 Budget, and more.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
APR and BPR are the two most valuable reliefs from Inheritance Tax (‘IHT’).
A detailed knowledge of what property or activity qualifies for relief and the circumstances in which relief can be limited or clawed back is vital to many estate planning decisions.
Due to their cost to the Exchequer, the often-technical conditions for such reliefs are already tightly policed by HMRC.
Early practical advice can often prevent unexpected tax charges which could otherwise endanger the family ownership of the farm or the business.
Both reliefs have been subject to extensive reform in the October 2024 Budget.
This new virtual classroom seminar is suitable for private client solicitors, accountants, and wealth management and independent financial advisers.
What You Will Learn
This live and interactive course will cover the following:
- Brief overview of conditions for each relief
- What qualifies as cottages and farmhouses are appropriate to the character of the property
- Activities qualifying as occupation for agricultural purposes (e.g. set aside)
- Restrictions on the value of agricultural property qualifying for relief
- What businesses are excluded from BPR and methods by which the overall character of composite businesses are to be assessed
- Practical methods of restructuring businesses to establish qualifying businesses
- What is an ‘excepted asset’ and its effect on the value qualifying for BPR
- Financing the acquisition of property qualifying for APR and BPR
- The impact of the clawback provisions on lifetime gifts of qualifying property
- Impact of 2024 Budget Statement
Expenses
MBL Seminars Limited
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