“More and more, it’s not a silver bullet solution - there is no silver bullet solution or one size fits all solution for people’s Inheritance Tax and later life planning. There needs to be a range of options that are available to people.

“Business Relief, because of the control and the flexibility that it offers people, it can be a really nice part of that solution for people.

“On the flip side, people - beyond looking at it for mitigating Inheritance Tax, actually can do a fantastic job in supporting the UK SME economy.”

“There are rules around what the company can and can’t do,” he explained.

“But, it allows people to invest into companies, to hold shares in these companies, and essentially those shares will qualify for Business Relief after two years.”

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