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  • Tax - Company trading status report
    Company trading status reportBusiness property relief is available on shares in unquoted companies if certain conditions are met. This means 100% of the market value of those shares will escape inheritance tax. However, HMRC can take this relief away if the business consists "wholly or mainly" of non-trading activities such as holding investments. How should you set about persuading him otherwise?Wholly or mainlyWhen considering this test, HMRC guidance is that its interpretation of this is literal, i.e. a 51%...
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