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An Adviser’s Guide
to Business Relief – Second Edition

An up-to-date and comprehensive resource that contains the information required to make informed decisions about Business Relief
brought to you by TIME Investments

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What you'll find inside

Practical Guidance

Detailed overview of the types of BR investment and the technical complexities to be aware of

Case Studies

Real life examples of when and how BR can be used and what it can achieve


Step by step advice on how to identify and deal with vulnerable clients

CPD Accreditation

Our guides are accredited by the CII, CISI and PFS. Give us feedback and don’t forget to claim your CPD certificate after reading!

We view BR as an essential component of any advisers toolkit. With a full understanding of BR and the various planning opportunities it can offer clients, advisers can add another strand to their estate planning advice.


Learning objectives

» Strengthen your understanding of the rules and practicalities that govern the relief.
» Assess the various structures that accommodate BR investment in practice, including in conjunction with and in comparison to other estate planning options.
» Build an understanding of the straightforward routes to identifying and suitably advising vulnerable clients.
» Consider the common-sense pointers on what to look out for in liquidity management in BR investments.
» Evaluate the options for transferring BR qualifying assets.
» Review examples of how and under what circumstances BR can be used.
» Earn up to 4 hours of CPD from the CISI, CII and PFS


A guide like this is rarely the product of one organisation’s efforts: to ensure that it is up to date, comprehensive, accurate and captures all of the key issues requires an industry-wide initiative.
We’ve had plenty of help producing this guide and would like to thank Jane Finnerty, Fiona Graham, Tish Hanifan, Lisa Mead, Dave Robinson, Andrew Swallow, and Mark Walley. Their input is invaluable, but needless to say any errors and omissions are ours.
Most of all we would like to thank our sponsor TIME Investments. It would not be possible to produce educational material like this without their generous support and contribution towards the production, printing and distribution of the guide.

Brief Overview

As the government’s IHT take continues to increase year on year, the importance of Business Relief (BR) as an estate planning method has certainly not diminished. The OTS’ second report in its review of IHT recognised the importance of BR in supporting family-owned businesses, and growth investment. While it has recommended addressing some inconsistencies in the rules governing BR qualification, it has also suggested changes that would open more trades and structures to BR eligiblity.
This is a sector that offers advisers additional tools in their estate planning arsenal but it’s important to stay up to date with developments and create and leverage expertise to obtain the best client outcomes. This is the second edition of our hugely popular Advisers Guide to Business Relief designed to give readers regularly updated technical tips, practical know-how and the easy reference material they need to navigate the challenges of undertaking BR investment.

To keep up with the changing landscape of estate planning, advisers require a knowledge and understanding of the full range of options available, including those outside of the more common gifting and trust methods. Investments that qualify for Business Relief (BR) have become increasingly popular and mainstream as they offer greater flexibility, speed and access.


Comments on the BR Sector

The OTS notes… the government’s commitment to protecting the important role that BR plays in supporting family owned businesses and growth investment in AIM and other growth markets. In correspondence and meetings, the OTS has heard evidence of its importance in meeting that objective.

Office Of Tax Simplification, Inheritance Tax Review – Second Report: Simplifying The Design Of Inheritance Tax, July 2019

For the most part, APR/BPR enabled testators to achieve their most important objectives of keeping assets in the family and avoiding breaking them up, as well as providing a tax-effective way of passing on their assets to beneficiaries.

HMRC, The influence of Inheritance Tax reliefs and exemptions on estate planning and inheritances, May 2017

Business Relief is an absolutely crucial relief for family businesses. Ultimately, without BR, the death of a major shareholder could lead to break up of otherwise successful businesses.

Institute for Family Business, Autumn 2019