Additional Flashcards
(5 cards)
BPR on shares is restricted where the company holds ‘excepted assets’
What are the most common examples of ‘excepted assets’?
How do we restrict the relief given?
- Large surplus cash deposits and
- Investments
Gift x ([Total assets - excepted assets] / Total assets)
When calculating APR we use the ?
Agricultural value of the land, not the market value
Post mortem relief is available when executors sell quoted shares or unit trusts at a loss within…
How is the allowable loss calculated?
When would it be restricted?
- 12 months of death, the loss reduces the value of the death estate
Taking account of all sales, inc those with a profit
Restricted if the executors buy quoted shares or unit trusts within the period starting with death and ending two months after the last sale
Post mortem relief is available for sales of land within ….
The loss will be reduced if…
3 years of death
*sales at a loss in the fourth year can also be taken into account
Land is purchased starting with the period of death and ending 4 months after the last sale in 3 year period
Post mortem relief is also available where related property are sold at a loss within ….
How does it work?
3 years of death
The stand-alone value of the asset at death is substituted for the related property value
