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Inheritance tax

Expert commentary and practical guidance from ICAEW related to inheritance tax in the UK personal tax regime.

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Exclusive

TAXguide 16/20: Basic inheritance tax planning

This practical guide outlines the inheritance tax rules, explains key reliefs, and planning for lifetime gifts, wills and deathbed situations.
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Exclusive

Inheritance tax: pitfalls and planning points

Inheritance tax has been in the public eye again in recent months, sparking media debate on the merits and demerits of one of the UK’s least favourite taxes. Mei Lim Cooper looks at some of the pitfalls and planning points for inheritance tax as it stands.
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TAXguide 11/20: IHT on overseas property representing UK residential property

An update to guidance from ICAEW, STEP, CIOT and The Law Society on areas of uncertainty in the statutory provisions for Inheritance Tax on Overseas Property Representing UK Residential Property introduced by Finance Act (No 2) Act 2017.
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Practical guidance

ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax.

Exclusive TAXguide 16/20: Basic inheritance tax planning
  • Technical release
  • 17 Dec 2020
This practical guide outlines the inheritance tax rules, explains key reliefs, and planning for lifetime gifts, wills and deathbed situations.
TAXguide 11/20: IHT on overseas property representing UK residential property
  • Technical release
  • 29 Jun 2020
An update to guidance from ICAEW, STEP, CIOT and The Law Society on areas of uncertainty in the statutory provisions for Inheritance Tax on Overseas Property Representing UK Residential Property introduced by Finance Act (No 2) Act 2017.
TAXguide 15/17: Inheritance tax - business property relief and groups of companies
  • Technical release
  • 07 Sep 2017
In TAXguide 15/17, the Tax Faculty has published correspondence between Emma Chamberlain and HMRC relating to the availability of business property relief (BPR) in complex group structures. It extends the guidance offered by TAXguide 05/11 on inheritance tax and BPR.
TAXguide 10/15
  • Technical release
  • 27 Oct 2015
  • PDF (250kb)
Inheritance Tax and Trusts: Trust variations and settlements
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Features and articles

Expert commentary and practical guidance from ICAEW related to inheritance tax in the UK personal tax regime.

Exclusive The contentious terrain of Research and Development tax credits
  • Article
  • 21 Nov 2023
Jesminara Rahman looks at difficulties facing companies pursuing research and development tax claims. In recent years, the tax terrain for Research & Development (R&D) has experienced significant changes, due to a substantial shift in HMRC's approach.
Exclusive Development land tax pitfalls – deferred consideration
  • Article
  • 27 Oct 2023
Despite all the news about the housing sector slowing down, the demand for farmland for development has remained strong, with reduced profit margins due to costs. Tax on the sale of land for development can be very complicated. In most cases the gain on the sale of land should be chargeable to capital gains tax (CGT) but in some cases the profit can be charged to income tax and this takes considerable planning in advance.
ICAEW technical round-up: October 2023
  • Article
  • 27 Oct 2023
This month’s top stories include HMRC updates on corrections in payroll; the formal removal of the 10-minute average waiting time; and withdrawal of paper VAT registration forms.
IFS examines options for reforming inheritance tax
  • Article
  • 03 Oct 2023
In its recent report, the Institute for Fiscal Studies (IFS) considers several options for reforming inheritance tax (IHT). These include raising the IHT nil rate band (NRB), or capping key IHT reliefs such as business property relief (BPR) and agricultural property relief (APR).
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Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.

Exclusive Inheritance tax
  • eBook chapter
  • 2023
  • Jackie Anderson, Mark McLaughlin
  • Incorporating and Disincorporating a Business
Practical advice on the potential implications of business incorporation upon inheritance tax reliefs.
Exclusive Agricultural, business and heritage property relief
  • eBook
  • 2023
  • Chris Erwood
  • Agricultural Business and Heritage Property Relief
Expert guide to the rules of inheritance tax relief for business, farm, woodland and heritage property.
Exclusive Succession planning and passing on the family or owner-managed company
  • eBook chapter
  • 2023
  • Peter Rayney
  • Tax Planning for Family and Owner-managed Companies
Tax planning advice for passing a family or owner-managed company on to the next generation or selling to a third party, written for anyone who advises or runs one.
Exclusive Selling the owner-managed business or company
  • eBook chapter
  • 2023
  • Peter Rayney
  • Tax Planning for Family and Owner-managed Companies
Tax planning advice on selling a family or owner-managed company, written for anyone who advises or runs one.
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.

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eBooks

The Library & Information Service provides a collection of eBooks as a benefit of membership. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com.

Exclusive Inheritance and gift taxes
  • eBook chapter
  • 2023
  • IBFD
A short section providing an overview of inheritance and gift taxes in the UK. Includes coverage of taxable persons, taxable assets, allowances and exemptions, rates, and double taxation relief.
Exclusive Inheritance Tax
  • eBook chapter
  • 2023
  • Telegraph Media Group
A chapter summarising the basics of Inheritance Tax — what it must be paid on, rates of tax, and relevant exemptions and reliefs. The author gives tax saving tips, and illustrates points with real-world examples.
Exclusive Residence and domicile
  • eBook chapter
  • 2023
  • Telegraph Media Group
A chapter covering the concepts of residence and domicile, and their respective implications for an individual’s liability to Income Tax, Capital Gains Tax, and Inheritance Tax in the UK. The author gives tax saving tips, and illustrates points with real-world examples.
Exclusive Private client: wills, trusts and estate planning 2023
  • eBook
  • 2023
  • Lesley King
Provides an introduction to the legal and taxation implications arising from estate planning work for clients within the private client department of a solicitor's practice.
Exclusive Inheritance tax
  • eBook chapter
  • 2021
  • Malcolm James
  • UK Tax System - An Introduction
A brief chapter on inheritance tax (IHT) in the UK. Inheritance tax is payable on the estates of deceased persons and certain lifetime transfers.
Exclusive UK tax system: an introduction, The (4th edition)
  • eBook
  • 2021
  • Malcolm James
Guide to the UK tax system for tax practitioners and students.
Exclusive Taxation: Finance Act 2019
  • eBook
  • 2020
  • Alan Melville
The main aim of this book is to describe the UK taxation system in sufficient depth and with sufficient clarity to meet the needs of those undertaking a first course of study in taxation.
Exclusive Private client practice: an expert guide
  • eBook
  • 2016
  • Laura Slater
Broken into a series of direct and insightful articles from a broad range of legal and financial experts in the private client sphere, the guide outlines the most important legislative and case law developments and considers their practical impact. Articles also address some of some tricky and related areas that private client solicitors should know about, such as investment strategies, farming law, and litigation.
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Articles and books in the ICAEW Library collection

The collection of the ICAEW Library & Information Service includes a range of articles, books and reports on inheritance tax. A selection of recent books covering this topic is set out below.
Tolley's yellow tax handbook, 2023/24
  • Library book
  • 2023
  • A. Redston (ed.)
  • LexisNexis
Annual multi-volume work bringing together the fully amended and annotated text of all legislation and official material relating to income tax, capital gains tax, corporation tax, national insurance contributions, tax credits, petroleum revenue tax and inheritance tax. Includes footnotes indicating amendments to legislation, and cross-references to the HMRC Manuals.
Tolley's inheritance tax, 2023-24
  • Library book
  • 2023
  • M. Gunn
  • LexisNexis
An annual book providing a comprehensive summary of law and practice relating to inheritance tax. It is arranged by subject, with various aspects being covered in turn. Worked examples, as well as commentary in the form of notes, are included to clarify complex points.
Tolley's tax guide, 2023-24
  • Library book
  • 2023
  • S. Maxwell, J. Houghton
  • LexisNexis
An annual single-volume guide to various aspects of taxation in the UK. Includes sections on employment, pensions, trading, family, trusts, estates and more. Points are illustrated with worked examples and clear tables.
How to save inheritance tax, 2023/24
  • Library book
  • 2023
  • C. Bayley
  • Taxcafe UK
The latest edition of this guide aims to provide comprehensive information on various aspects of inheritance tax. It thoroughly examines a number of tax planning strategies, helping you to make informed decisions regarding the appropriate steps for you and your family.
Inheritance tax: lifetime transfers and the death estate, 2023-24
  • Library book
  • 2023
  • M. Saksida
  • Claritax Books
The latest edition of this annual guide offers concise practical advice on a range of common issues relating to inheritance tax (IHT), including valuation issues, exemptions and reliefs, and other complications. The Library also holds the previous edition (catalogued separately).
Inheritance tax, 2022/23
  • Library book
  • 2022
  • M. McLaughlin, I. Wünschmann-Lyall, C. Erwood
  • Bloomsbury Professional
This book provides a clearly structured analysis of the major inheritance tax (IHT) provisions, as well as tips and planning techniques. It begins with the basic rules and principles, before examining particular topics in greater depth.
Tolley's estate planning, 2022-23
  • Library book
  • 2022
  • S. McKie, S. McKie
  • LexisNexis
This book considers all aspects of estate planning, demonstrating how to formulate strategies for the provision, holding and devolution of personal and family resources. It includes numerous practical planning suggestions, a practical step-by-step case study, and worked examples and tables.
Practical inheritance tax planning: tax reduction strategies that work in the real world
  • Library book
  • 2022
  • A. Pink
  • Pink Proactive Publishing
Written with non-experts in mind, this book aims to give a clear picture of key Inheritance Tax (IHT) rules and principles, and to dispel common misunderstandings. It provides many practical tax planning tips which may help to reduce IHT liability.

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

Representations

ICAEW REP 65/21: Tax Administration Framework Review
  • Representation
  • 13 Jul 2021
  • PDF (386kb)
In responding to HMRC's consultation on the Tax Administration Framework Review ICAEW argues that the starting point of such tax reform should be significant simplification of the underlying tax rules and that HMRC needs to be given the resources and funding to give it the capacity to take on such a major piece of work.
ICAEW REP 16/20 Inheritance tax-excluded property FB19-21 clause 72
  • Representation
  • 22 Apr 2020
  • PDF (315kb)
A briefing to MPs dated 20 April 2020 on Finance Bill 2019-21 published by government on 19 March 2020.
ICAEW REP 90/19 Inheritance tax and excluded property added to and transferred between trusts
  • Representation
  • 06 Sep 2019
  • PDF (262kb)
A response dated 5 September 2019 to a consultation published by HMRC on 11 July 2019.
ICAEW REP 27/19 - The taxation of trusts
  • Representation
  • 28 Feb 2019
  • PDF (382kb)
A response dated 28 February 2019 to a consultation published by HMRC on 7 November 2018.
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Some of the content on this web page was provided by the Chartered Accountants’ Trust for Education and Research, a registered charity, which owns the library and operates it for ICAEW.