One of the most difficult issues when advising clients on the transfer of business assets either during lifetime or on death can be in determining whether or not those assets qualify for what is called “Business Property Relief” (BPR).
Everyone felt the impact of the first downturn in the property world. We were told the pain would get worse before it could get better. It did. The last 10 years had certainly led us into a false sense of security and it is undeniable that many of us were slow to react.