I have my own business, being in partnership with my wife. The business operates from a premises which I solely own. Under that set up I believe I will only get 50% relief for IHT on the property.
Am I correct in thinking that if I gift my wife a 50% share in the property so that it then becomes a partnership asset, I will receive 100% IHT relief? Would the ownership of the property have to be in the partnership name or is it acceptable to simply own it jointly.
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