Seneca Partners has launched an inheritance tax (IHT) service that allows investors to protect their legacy from IHT while at the same time giving a helping hand to British businesses.
The Seneca Inheritance Tax Service uses the principles of Business Property Relief (BPR), which was introduced in 1976 and allows investors in unquoted shares to qualify for IHT exemption once the assets have been held for two years.
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The service matches up investors seeking to exempt their assets from IHT with quality businesses that are seeking to borrow.
The Seneca Inheritance Tax Service is a fund that pools investors’ cash in the unquoted vehicle Seneca Secured Lending which then offers short and medium-term loans to small and medium-sized businesses.
After two years’ investment the assets are completely free from inheritance tax, but remain the property of the investor.
Ian Battersby, of Seneca Partners, said: "Our new inheritance tax service is a unique proposition that allows people to protect their estate from inheritance tax, while at the same time providing much-needed finance to British businesses.
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By GlobalData"Its appeal to those planning their legacy is clear – not only can it exempt part of their estate from IHT in just two years, but in addition it doesn’t require investors to give away their assets as is the case with some other IHT strategies."
