The availability of business property relief to a group structure is not always intuitive. In addition to the normal requirements for identifying a ‘wholly or mainly’ trading business and any ‘excepted assets’, specific exemptions apply to holding companies and specific restrictions apply to subsidiaries. The position where there is a partnership or LLP at the top of a ‘group’ is different again.
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The availability of business property relief to a group structure is not always intuitive. In addition to the normal requirements for identifying a ‘wholly or mainly’ trading business and any ‘excepted assets’, specific exemptions apply to holding companies and specific restrictions apply to subsidiaries. The position where there is a partnership or LLP at the top of a ‘group’ is different again.
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