He said the only condition was to invest into a qualifying share and to hold it for two or more years. At the time of death, it will then qualify for relief with inheritance tax, pending HM Revenue and Customs approval.
“If you think of a private listed business, if you're passing this down one generation, how are you going to raise 40 per cent inheritance tax to bill the value of this business - do you have to sell the business, make redundancies, sell assets or dissolve the business,” he said.
“The business relief is designed to really recognise the importance that the UK enterprise has and to encourage people to hold these businesses.”
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