Pitfalls in faulty contracts – partnership and shareholder’s agreements
jon
November 25, 2009
advice, agreement, business property, contract, IHT, inheritance tax, partnership, professional, shareholders
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I have been writing elsewhere about the dangers of using templates and adapting borrowed contracts and agreements rather than paying for professionals to draw up new ones. It is time to be specific.With regard to partnership business assets, there are generous, though one might say prudent, reliefs from inheritance tax which can amount to 100% of the value of the capital account and 50% of the share of buildings, land, and plant and machinery. That means that the heirs have the opportunity to receive up to the whole value of a deceased partner’s share of a business, … Continue Reading
