IHTM25011 - Investigating business relief and businesses: Introduction

You should start your investigation by looking at the information on form IHT413 or form D38 ( IHTM25012), then check the instructions on 100% relief cases ( IHTM25021) to see if 100% business relief applies.

In your investigation you should review all the information that is available to you. This will include the

• deceased’s/transferor’s stated occupation,
• information provided on form IHT 412, IHT413 or form D38, ( IHTM25012)
• information provided about the deceased’s/transferor’s business activities,
• information provided in any business accounts ( IHTM25052),
• terms of any partnership deeds ( IHTM25092) that may exist, and
• information in other HMRC files such as Income Tax or company files, other IHT files for the taxpayer, for example a lifetime file or for other members of the family/ business.

All this information will help you to establish whether the deceased/transferor meets the conditions to qualify for business relief and, if so, the rate of relief and the extent to which the value transferred ( IHTM04028) is entitled to relief.

If relief is not due you should review all the available information to establish the value of the business interest.