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Inheritance Tax (IHT) is a 40% tax on an individuals total qualifying estate, and the number of people liable to pay this tax has risen in the last decade due to the freezing of the nil rate bands and the increase in property prices. In response, the number of people seeking tax-efficient solutions has increased, as more people look to find effective ways to pass on their assets to their loved ones.
One of the most valuable reliefs for IHT is business relief (BR). This is a relief available both to business owners and individuals who invest in qualifying assets