IHTM25001 - Business relief and businesses: Introduction
This section deals with business relief claims and the valuation of businesses and partnerships.
It starts by looking at the form taxpayers use to claim business relief and the procedures for investigating a claim for relief at 100%. It deals with the procedures for investigating other business relief claims. And it looks at the valuation of businesses and partnerships where 100% relief does not apply.
The taxpayer should give information about business relief and businesses on the form IHT413 or D38 (IHTM25012).
With effect for deaths and other transfers from 6 April 2026 (and including transfers made within 7 years of a death on or after 6 April 2026 if they were made on or after 30 October 2024) the highest rate of relief (100%) will be limited to the first £2.5m of eligible relievable property, or up to £5m if unused allowance can be transferred from a pre-deceased spouse or civil partner (IHTM25530). This limit only applies to chargeable transfers of relievable property and not to exempt transfers of relievable property. Instructions on how this will apply can be found beginning at IHTM25500.