IHTM25021 - Investigation in 100% relief cases: Introduction

You should investigate 100% business relief

• if the date of death or transfer was on or after 10 March 1992, and
• if the business interest shown on form IHT412, IHT413 or D38 is

If it is a holding of unquoted shares, Shares and Assets Valuation (SAV) will consider whether the conditions for 100% relief, including the period of ownership test, are satisfied. In the first instance you should complete form Val 70 ( IHTM18151) and refer it to SAV in the normal way. You should ensure that all information relevant to the shareholding contained in form IHT400 is conveyed to SAV on the Val 70 or by attaching copies of valuations etc.

(This text has been withheld because of exemptions in the Freedom of Information Act 2000)

(This text has been withheld because of exemptions in the Freedom of Information Act 2000)

In the case of a whole business or an interest in a business, the charts below take you through the conditions for 100% relief on

• death ( IHTM25022)
• a potentially exempt transfer( IHTM25023), or
• a lifetime transfer chargeable when made ( IHTM25024).

If, after you have gone through the chart, 100% relief does not apply, you should check the valuation ( IHTM25081) of the business interest. If the business interest was an interest in a partnership you should also check the rules for partnerships ( IHTM25091) and the valuation ( IHTM25101) of the partnership interest.

100% business relief does not apply

• if the business interest shown on form IHT413 or D38 is land or buildings, plant or machinery used by a business or company ( IHTM25221), or
• if the date of death or transfer was before 10 March 1992. In this case you should check the detailed rules ( IHTM25131) for business relief and the valuation ( IHTM25081) of the business interest.