SVM111140 - IHT Business Property
Relief: Investment businesses
S.105(3) refuses relief for a business or interest in a
business, or shares or securities of a company, if the business (or
the company's business) consists wholly or mainly of one or more of
- dealing in securities, stocks or
- dealing in land or buildings,
- or making or holding investments.
But, under s.105(4) this refusal of relief does not apply:
- to any property if the business concerned is wholly that of a
market maker or is that of a discount house and (in either case) is
carried on in the UK, or
- to shares or securities of a company if its business consists
wholly or mainly in being a holding company of one or more
companies whose business does not fall within s.105(3).