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When BPR is available

BPR is available on a transfer of relevant business property. The rate will be 50% or 100% and will depend on which of six categories the relevant business property falls into. BPR applies to transfers by trustees as well as individuals. It can apply on exit charges and 10-year charges. There is no territorial restriction on BPR generally.

Definition of business

For the purposes of BPR a business includes a profession or vocation and must be carried on for gain.

Therefore ‘business’ for BPR purposes is a much wider concept than ‘trade’. It may be easier for a company than a non-corporate entity to demonstrate that it is carrying on a trade as any gainful use to which a company puts its assets amounts to