Livery stable business is entitled to Inheritance Tax Business Property Relief

A livery stable business run by the late Maureen Vigne qualifies for business property relief from inheritance tax, the England and Wales High Court has ruled in Personal Representative of Vigne v HMRC (2017 UKFTT 632 TC).

HM Revenue & Customs had tried to disallow the executor’s claim for business property relief on the grounds that the business was largely a property investment company, but the judge, Geraint Evans, said ‘no properly informed observer could or would have said that the deceased was in the business of holding investments’.

The High Court Report is well worth a read fr anyone interested in business property relief –