What is Business Property Relief?

Business Property Relief (BPR) was introduced as part of the 1976 Finance Act in order to allow small businesses to be passed on through generations without incurring an Inheritance Tax (IHT) liability. The scope of BPR has evolved over the years to become a method of investing for individuals looking to reduce a potentially large IHT liability at the time of their death.

Which companies qualify for BPR?

The following types of companies qualify for BPR: 

Privately owned companies that are not listed on the main London Stock Exchange (LSE) and carry out a qualifying trade.

On the Alternative Investment Market (AIM) and carry out a qualifying trade.

Companies that do not typically qualify include mining, investment and property companies.

Is it possible to get pre-approval that a company will qualify for BPR?

No, HMRC only ever considers a company's qualification for BPR at death.

Does BPR affect your nil rate band (NRB)?

BPR planning does not affect the NRB, thus complementing and legislatively diversifying other Trust and Gift based IHT planning that does impact the NRB.

Will my investment be exempt from IHT?

Provided a qualifying BPR investment is held for a minimum of two years, and at the time of death, it will not be subject to IHT in the event of the investor’s death.

How long does it take to become IHT exempt?

Unlike gifts and trusts, which typically take up to seven years before they are fully exempt from IHT, BPR-qualifying investments are IHT exempt after just two years provided that the investments are still held at the time of death.

Do I retain control of my assets?

Unlike a trust-based plan, with a BPR investment you maintain full control of and access to your money at all times. We aim to return monies within 15 working days upon request.

What if I have sold a qualifying business?

Qualifying BPR investments can be switched to an alternative BPR qualifying investment without restarting the two year clock - this is known as Replacement Property Provision (RPP).

Do I need to have a medical examination?

BPR investments are relatively straightforward. Generally, there are no complex legal structures. There will not be a requirement for medical underwriting regardless of age or health.

The Foresight Accelerated Inheritance Tax Solution requires a terminal illness declaration be signed, as well as consent to the release of medical records, including any post-mortem examination as may be necessary to adjudicate any claim thereunder as is required.

Who might consider investing?

The Foresight Inheritance Tax Solutions may be of interest to a client who:

Wants to shelter their assets from inheritance tax while retaining access to their capital

Feels they have left estate planning too late

Has a power of attorney in place and wants to mitigate inheritance tax (note that investment via power of attorney not accepted in Accelerated ITS)

Has sold their business within the last three years

Has loan trusts and is concerned about the inheritance tax due on the initial capital

Would like to put more than the nil-rate band into a discretionary trust

Is a trustee looking to avoid periodic charges or exit charges

Holds cash and is looking for a better rate of return

Has IHT issues, but doesn’t feel ready to plan

What are the risks associated with BPR investment?

The following risks are typically associated with a BPR investment: 

Tax rules are subject to change

If you do not hold the investment at the time of death, you will lose the tax exemption

Investing in small companies is inherently risky. These companies may not perform as hoped and in some circumstances may fail completely

Your capital is at risk; you may not get back as much as you put in and in the worst-case scenario you could lose all of your capital

BPR investment should be considered as a longer-term investment and may be higher risk and more difficult to realise than other securities listed on the London Stock Exchange

What will the Foresight Inheritance Tax Solution invest into?

The Foresight Inheritance Tax Solutions aims to deliver modest returns by predominantly targeting infrastructure businesses, including solar power plants, onshore wind and battery storage projects. These businesses are ideal for estate planning solutions, typically providing returns derived from long-term contracted revenue streams with limited correlation to listed markets.

Are there any age limits?

There is no age limit for investment into the Foresight Inheritance Tax Solution, so it’s never too late or early to consider.

The Foresight Accelerated Inheritance Tax Solution does have age limits dependent on the insurance cover option (please see the Investor Guide for further information).

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Capital is at risk. The value of an investment, and any income from it, can fall as well as rise and investors may not get back the full amount they invest. An investment in the fund should be considered a long term investment and may be higher risk and more difficult to realise than an investment in listed securities. Tax reliefs are dependent on investee companies continuing to qualify for Business Property Relief and investors’ individual circumstances. Current tax rules are subject to change. Past performance is not a reliable indicator of future performance. Foresight Group LLP does not provide advice and the information on this website should not be construed as such. We recommend investors seek advice from a regulated financial adviser. Investors should only invest in the Foresight Inheritance Tax Fund on the basis of information contained in the Investor Guide and Key Information Document.

Foresight Group LLP is authorised and regulated by the Financial Conduct Authority (FRN: 198020).

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The information contained on these website pages (this "Site”) is communicated and issued by Foresight Group LLP (details below) in accordance with the following terms and conditions. By accessing any part of this Site, you will be deemed to have accepted these Terms and Conditions in full. If you do not accept these Terms and Conditions please do not continue to access this Site.

Foresight Group LLP

Foresight Group LLP is authorised and regulated by the Financial Conduct Authority ("FCA”). FCA firm reference number 198020. The website of the FCA can be accessed at www.fca.org.uk.

Foresight Group LLP is a limited liability partnership incorporated in England and Wales (registered number 0C300878). Its registered office is at The Shard, 32 London Bridge Street, London, SE1 9SG.

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Foresight Group CI Limited is licensed by the Guernsey Financial Services Commission (registered number 2006518) to undertake controlled investment business as defined in The Protection of Investors (Bailiwick of Guernsey) Law 1987.

Foresight Group CI Limited is a private company registered in Guernsey (registered number 51471). Its registered office is Ground Floor, Dorey Court, Admiral Park, St Peter Port, Guernsey, GY1 2HT.

Save as mentioned below, references to "Foresight”, "Foresight IHT”, "The Manager”, "we” and "our” are to Foresight IHT LLP and/or Foresight Group CI Limited as the context dictates.

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The information contained within this Site does not constitute an offer to invest or an invitation to apply for securities:

The information has been issued and approved by Foresight Group LLP and does not in any way constitute investment, tax, legal or other advice. Investors should not rely on any information or opinions contained in this Site in making an investment or other decision but should obtain appropriate and specific professional advice. Nothing contained on this Site constitutes or should be construed to constitute investment, legal, tax or other advice. The information contained on this Site shall in no way be construed to constitute a recommendation with respect to the purchase or sale of any investment.

The website is provided for the main purpose of providing generic information on Foresight Group LLP and on the products and funds we currently manage. Persons accessing specific information about the funds and investment products referred to on this website are strongly advised to refer to the relevant terms and conditions of access, including any relevant risk warnings and disclaimers, and in the event that they do not accept them, should not proceed to access the material to which they are applicable.

Certain products or investment services managed by Foresight are not generally considered suitable for private investors. Therefore, certain areas of the website are password protected or require additional confirmation that you are an appropriately experienced or qualified investor. This website also contains links that lead to other websites. These links are provided solely for your convenience and do not constitute any endorsement, sponsorship or approval of the materials appearing in such sites.

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The following list of risk factors is provided as an indication of the variety of risks which exist with investment in the funds and products featured on this website ("Foresight Funds”, "Foresight Products”). Not all risks as stated will necessarily apply to each of the Foresight Funds or Foresight Products. Investors' attention is nevertheless drawn to these risks as investments in the Foresight Funds or Foresight Products may not be suitable for all investors.

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Risks Applicable to Foresight Inheritance Tax Solution (ITS)

Existing and prospective investors should consider carefully the following ITS-specific risk factors. If any of the risks described below were to occur, it could have a material effect on the ITS' business, financial condition or results of operations. The risks and uncertainties described below are not the only ones that the ITS and investors may face. Additional risks not currently known to Foresight, or that Foresight currently believes are not material, may also adversely affect its business, financial condition and results of operations and those of the ITS it manages/operates. The value of shares in Foresight Funds could decline due to any of these risk factors, and investors could lose part or all of their investment.
Prospective investors should be aware that the value of shares and the income from them can fluctuate and that they may not get back the amount they invested.. Investment in the ITS should be seen as a long term investment. Investors who are in doubt should consult their independent financial adviser. The attention of prospective investors is drawn to the following risks:

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Foresight Group LLP acts for the funds and clients they manage or advise and not for anyone else. They will not act for, advise or be responsible for providing the protections afforded to their customers to anyone other than such funds and clients. Entrepreneurs and others working for Foresight should be aware of this and should not expect that they will be treated as customers of Foresight.

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