Private Co Shares and Discounts

[Rows Mum]

Would appreciate any advice anyone has with regard to discounts on private company shares. Private property investment co, small number of shareholders - family members and a couple of trusts, the beneficiaries of which are certain family members. The trustees of one of the trusts (trust A) hold 27% of the issued share capital. Co has been valued on a net asset position and the trustees of Trust A have been advised by the accountant that the value of their holding is simply 27% of the total Co value.

The Trust will shortly have a 10 year charge, and I wonder if, in this context, there is scope for applying a discount to the accountant's figure? The potential IHT is substantial, so looking at how we might sensibly batter this down.

Has anyone successfully argued for a discount in similar circumstances?

Many thanks in advance

[pawncob]

You could argue that the number of potential purchasers is restricted because of the large shareholding, and therefor it's not an open market.
Watch out for the counterargument that a 27% holding only leaves 73% in other hands (below the critical 75% level).