In the Specimen Sep/Dec 2021 exam which has now been published by the ACCA, Business Property Relief was examined in Question 2, Lucille.

Lucille made a gift of quoted shares worth £400,000 to a discretionary trust and you were asked if the CLT was eligible for BPR. You needed to explain the conditions which had to be satisfied and the percentage of BPR available.

Does anyone know what conditions need to be satisfied and what percentage of BPR is available? In addition, what could be reason BPR withdrawn on death?

To help you understand BPR I have written an article in this month’s PQ Magazine. This is an excellent resource for accountancy students, and I recommend you subscribe to it.

The editor, Graham Hambly,  campaigns tirelessly for student rights and should be commended for his efforts.

Please read through the article carefully to help you understand this important topic.

Don’t forget you can purchase my condensed notes to make your studying even more effective by using this link