[SVM111050] IHT Business Property Relief: Meaning of 'unquoted' and 'control'
S.105(1)(b) and s.105(1)(bb) both use the term ‘unquoted’. ‘Control’ is used in s.105(1)(b) and in s.105(1)(cc) and (d). The definition of ‘unquoted’ is straightforward – it should be noted that shares dealt in on AIM qualify as unquoted for this purpose. The definition of ‘control’ is more complex and is dealt with in detail below.