Examples of Relevant Business in a sentence
Similar relief is also available on gifts of shares which qualify as Relevant Business Property, subject to a potential clawback of relief if the donor Investor dies within seven years of the gift and the donee does not hold the gifted shares (or replacement assets which qualify as RBP) at the date of death.
For example, if shares in an unquoted Investee Company, qualifying as Relevant Business Property, were purchased and held for one year and then sold – and all the resulting cash held for two and a half years before being reinvested in shares in another unquoted Investee Company (or any other asset) qualifying as Relevant Business Property – that further investment would qualify for IHT relief were the Investor to die at least one year after the reinvestment.
If the Tranche is disbursed on a day that is not a Quarter Day (or, where a Quarter Day is not a Relevant Business Day, on the first following day that is a Relevant Business Day), interest for the period from the date of disbursement to the first following Quarter Day shall be payable at the PRIBOR.
Where an investment in Relevant Business Property is made as a replacement of Relevant Business Property previously sold, provided the combined periods of ownership (ignoring any period between the sale and replacement) amount to more than two years out of the five years immediately prior to death, the replacement property should likewise qualify for full relief from IHT.
The Company will convene the EGM in due course for the independent shareholders to consider and, if thought fit, approve, confirm and ratify the entering into of the 2021 Master Supply Agreement and the 2021 Master Business Cooperation Agreement (including Relevant Supply Annual Caps and Relevant Business Cooperation Annual Caps).