A wedding venue business operated by a limited liability partnership was wholly or mainly for the purposes of holding its property as an investment, such that there was no entitlement to business property relief for inheritance tax purposes. 

Summary 

A wedding venue business operated by a limited liability partnership (LLP) was wholly or mainly for the purposes of holding its property as an investment, such that there was no entitlement to business property relief (BPR) for inheritance tax purposes. 

Background 

The deceased (HB) died on 15 May 2015. At her death, HB was a member of an LLP. The LLP’s activities fell into three categories: (i) farming; (ii) commercial lettings; and (iii) a wedding venue business operating from an historic barn on the farm (Clock Barn). The wedding business was the most significant aspect of the LLP’s activities. Until 2005, Clock Barn