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Business Relief Exemption (Inheritance Tax)

  • 26-09-2012 3:56pm
    #1
    kevincaomhin
    Registered Users, Registered Users 2 Posts: 72 ✭✭


    Does anyone know whether renting a number of properties would consititute a business for the purposes of business relief exemption from inheritance tax?

    If so what about the following scenarios:
    (a) Renting properties to tenants on short term lets (6-9 months)?
    (b) Renting properties on the holiday home basis (2 week rentals)?
    (c) Properties ( unfinished apartments) not completed over an existing business which is eligible for business relief? So for example 2 apartments (shells) over a pub? Would you need to calculate value of apartments and subtract from value of pub.

    The revenue is somewhat unclear = > http://www.revenue.ie/en/tax/cat/guide/reliefs.html#section2

    Thanks a million.


Comments

  • #2
    Shane732
    Registered Users, Registered Users 2 Posts: 4,998 ✭✭✭Shane732


    kevincaomhin wrote: »
    Does anyone know whether renting a number of properties would consititute a business for the purposes of business relief exemption from inheritance tax?

    If so what about the following scenarios:
    (a) Renting properties to tenants on short term lets (6-9 months)?
    (b) Renting properties on the holiday home basis (2 week rentals)?
    (c) Properties ( unfinished apartments) not completed over an existing business which is eligible for business relief? So for example 2 apartments (shells) over a pub? Would you need to calculate value of apartments and subtract from value of pub.

    The revenue is somewhat unclear = > http://www.revenue.ie/en/tax/cat/guide/reliefs.html#section2

    Thanks a million.

    Nope, not going to be eligible for business relief.


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