Investing in a business can be a useful tool in your personal tax planning as there are reliefs specific to business assets which can mean your investment would be exempt from inheritance tax if you die.

You might think that this type of tax relief is only for the likes of the investors on Dragon's Den, but as this article highlights, the increasing interest in crowdfunding to provide startup funds for businesses has opened the door to a wide range of investors.

If you invest in a business, or if you own an investment portfolio or product there are opportunities for you to pass the value on tax free either by lifetime gifts or using your will.  It is important to make sure your will deals with the investments properly otherwise you might not make the most of the tax exemption.