IHTM25151 - Business interests: Rate of relief

The rate of relief is:

• 100% on and after 10 March 1992
• 50% before that date.

If there was a lifetime transfer ( IHTM14001) before 10 March 1992 which was chargeable when made, the 100% rate applies only for the purpose of calculating the second tax charge on the transferor's death. The value for cumulation is based on the 50% rate applying at the date of the transfer.