BPR is the key relief for business owners for relief from inheritance tax. It is available for transfers by individuals in lifetime and on death and also on transfers by trustees. For transfers by trustees see I7.161–I7.161B.
BPR reduces the value transferred by either 100% or 50%, depending on the type of business property held. The applicable rates are:
| Nature of business property | Rate of relief |
| A business or an interest in a business (eg a partnership interest) | 100% |
| Any unquoted shares (including AIM shares) | 100% |
| Unquoted securities from a control holding (including AIM securities) | 100% |
| Quoted shares or securities from a control holding (including AIM shares and securities) | 50% |
| Land or buildings plant or machinery used by a company controlled by the transferor | 50% |
| Land or buildings plant or machinery used by a partnership of which the transferor was a partner | 50% |
| Land or buildings or plant or machinery used in the transferor's |
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