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BPR ― minimum period of ownership


Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance

BPR ― minimum period of ownership


Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance
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This guidance note considers the minimum period of ownership for which an asset must be held to qualify for BPR.

BPR ― minimum period of ownership ― overview

For property to qualify as relevant business property and therefore qualify for BPR, it must have been owned for two years immediately preceding the transfer. However, this rule is modified in three cases. Where other relevant business property has replaced the original property then relief may be available if further conditions are met. Where relevant business property was acquired on death from a spouse then the spouse’s ownership period can be aggregated when measuring the two-year period. Finally, where there are successive transfers in less than a two-year period where one is triggered by a death then relief may be available even though the relevant business property has not been held for two years by the transferee.

Minimum period of ownership ― two years

The basic holding period for business property to qualify as relevant business property and obtain BPR is two years

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  • 28 May 2024 12:32

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