I have a Scottish couple who are writing wills at the moment and looking at tax planning. Their principal and only residence is actually their B&B business. The title to the property is in name of their partnership business. If one of them dies leaving the interest in the property to their spouse or children will this qualify for the Residential Nil Rate Band? It occurs to me that this is likely to be a question for several of my farming clients as well…
All comments and experience of claiming this relief in similar circumstances would be greatly appreciated!