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Home / Simons-Taxes /IHT, trusts and estates /Part I7 Special reliefs /Division I7.1 Business property relief (BPR) /Minimum period of ownership / I7.149 Minimum period of ownership for BPR—overview
Commentary

I7.149 Minimum period of ownership for BPR—overview


IHT, trusts and estates

I7.149 Minimum period of ownership for BPR—overview

For property to qualify as relevant business property and therefore to be eligible for BPR, it must have been owned for two years immediately before the transfer1. There are three exceptions to this rule. Where:

  1. Ìý

    •ÌýÌýÌýÌý other relevant business property has replaced the original property2 (see I7.150 and I7.150AA for unquoted shares identified with other shares)

  2. Ìý

    •ÌýÌýÌýÌý relevant business property was acquired on death from a spouse3 (see I7.150A),

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