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Business property relief for inheritance tax, combined with holdover and taper reliefs for capital gains tax, can mean that the capital tax burden on the family business is as low now as it has ever been. It is not certain how long this benign climate will continue, and many planning opportunities exist to protect the future. Typical problem areas still include:
Frequently settlements, of shares or insurance policies in particular, provide the best way forward; and modifications of business structures can often produce radically different tax consequences.