The inheritance tax business property relief clearance service for business owners - which began on 1 May 2008 - is to continue.
As an extension of the service HMRC will give their view of the tax consequences of a transfer of value that involves a change of ownership of a business where this transfer - leaving aside the application of business property relief - would result in an immediate inheritance tax charge and provided that the other conditions are met.
Clearances in these change of ownership cases will remain valid for a limited period of six months.
An applicant who has previously had an application rejected because it fell outside the scope of the trial service, but the circumstances are such that it would be included in the scope of the extended service, may now request a review of the original application.
Applications relating to business property relief clearances should be sent to: IHT Technical Team (Clearances), Ferrers House, Castle Meadow Road, Nottingham, NG2 1BB, or applications can be made by email.
