Hello to you all. My father has been running the small family business for a long while now. He is planning to leave it to me as the eldest son when he passes away. It is a private investment company which is not large. Will this be subject to IHT or inheritance tax, or not? Please clarify.
You can shelter your small family business from Inheritance Tax and indeed their are special rules that apply to such companies as your father's. If your company enages in holding on to investments, you are very likely to be exempted from IHT. If you are worried about the matter, do make sure to seek legal advice.
