Business Assets Taper Relief (BATR)
This is a relief (not available to companies) that reduces a chargeable gain by 75% if an asset has been held for at least two years, and has been a qualifying asset throughout that period. The effective rate of tax is reduced to a maximum of 10%.

Business Property for BATR
This includes assets used in a qualifying business or shares in a qualifying business. Property let to a trading company will qualify unless the tenant is a quoted company, an investment company or not trading (eg a charity).

Business Property Relief
Where certain conditions are satisfied, relief from inheritance tax is available on the transfer of 'relevant business property'. The relief is a percentage reduction in the value transferred and applies to transfers in life and on death. The reductions may be 50% or 100% depending on the category of the asset.

Buy-to-let
The practice of purchasing a property for investment purposes. The investment is intended to provide a combination of income, in the form of rent received from a tenant, and capital growth, in the form of an increase in the property’s market value.