Three years accounts for Business Relief

[dominoman]

For BPR the IHT400 form states that "If you’re deducting Business Relief, a copy of the partnership agreement (where appropriate) and the last 3 years’ accounts"

If I just get the accounts from Companies House online is that enough? It would save me having to contact each company my late father had a stake in to get them (most are small startups so their accounts are short anyway).

Thanks for any advice

[pawncob]

Have you read the notes? (p 31 onwards)
https://www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400

On what grounds are you claiming relief?

[dominoman]

Yes, I've read the notes. It doesn't answer my question on whether Abbreviated Accounts from Companies House are sufficient.

Claiming relief on the grounds that these are unlisted shares (some AIM stocks, some private investments) held for 2+ years. Why?

[pawncob]

For AIM shares, you don't need any supporting evidence.
For private companies you'll need a valuation. No other evidence required unless HMRC challenge the valuation, in which case you negotiate with share valuation division.
Partnership agreement, not applicable. Accounts not required.

[dominoman]

Thanks pawncob. That's really helpful. Would certainly save me a lot of time and hassle.

On the checklist (IHT400) it specifically asks if I have included 3 years of accounts. Should I just check No there?

[pawncob]

I'd recommend it.