Succession planning for the family business

1. The categories of business property

1.1. A business or an interest in a business

1.2. Unquoted shares

1.3. Excluded activities

1.4. Other categories

2. The type of business

2.1. The meaning of business

2.2. Business property relief clearances

2.3. Excepted assets

3. Value eligible for business property relief

3.1. Value of a business

3.2. Value of shares and securities

3.3. Anti-avoidance: liabilities

4. The ownership test

4.1. Replacement property

4.2. Successions

4.3. Successive transfers

5. Contracts for sale and companies in liquidation

6. Maximising business property relief on death

7. Lifetime transfers: some considerations

7.1. Business asset gift relief

7.2. BAD relief

7.3. Transfers within seven years before death