I have a client whose late husband was a director of a private company and after he died she inherited his shares in that company. Before she married she worked as a secretary for the company. Family members of the company have recently offered to buy back her shares at an agreed amount on her death provided she signs an assurance to this effect. If the value of the shares should increase between now and her death, she will still only get the amount agreed now.
I believe that, although she has no controlling share of the company, on her death the value of the shares will be covered by Business Property Relief as they are unquoted shares and not subject to an IHT charge. Is my thinking correct please?
Surtax
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