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Inheritance tax

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

In this section

Practical guidance

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

TAXguide 10/15

Inheritance Tax and Trusts: Trust variations and settlements

TAXguide 09/15

Inheritance Tax and Trusts: Update on Finance Act 2006 - Agreed correspondence with HMRC (replaces TAXGUIDE 01/07)

TAXguide 08/15

Non-domiciliary announcements made at summer budget 2015

TAXguide 01/14

IHT Business Property Relief - Interests in Partnerships LLPs and surplus cash holdings. Guidance agreed with HMRC (ICAEW Tax Faculty, CIOT and STEP)

Features and articles

Land registry issues

A change of policy by the Inheritance Team at HMRC has led to issues at the Land Registry where charges are being applied to land where the ownership details are being updated following a death in the name into the names of the beneficiary. Previously, to register land, an application for a clearance certificate (IHT30) was historically automatically sent out by HMRC. Now these need to be applied for.

Will land in fully environmental usage still be eligible for APR?

With the general move towards ‘greener’ farming following on from the Health and Harmony consultation and the Agriculture Act, some concerns have been raised as to whether land which is put into long term schemes that are fundamentally environmental rather than agricultural will still be eligible for the existing Inheritance Tax reliefs.

Changes to the inheritance tax reporting rules

Changes to the excepted estate rules announced this year will apply from January 1, 2022. ICAEW technical editor Lindsey Wicks looks at the effects as more than 90% of non-taxpaying estates will no longer have to complete full inheritance tax accounts.

The benefits of professional collaboration

This inheritance tax and estate planning guide aims to raise awareness of the opportunities for chartered accountants to work more collaboratively with regulated financial advisers and other personal financial planning professionals.

Webinars and recordings

Bloomsbury Core 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 Core Accounting and Tax Service.

Selling the owner-managed business or company

Tax planning advice on selling a family or owner-managed company, written for anyone who advises or runs one.

Inheritance tax 2022/23

Annual guide providing a practical overview of the major inheritance tax (IHT) provisions in the UK.

Trusts: interest in possession

Practical overview of the inheritance tax treatment of an interest in possession trust, written for tax practitioners.

Business property relief and agricultural property relief

Practical guidance on business property relief and agricultural property relief for inheritance tax.

Capital taxes

Concise chapters covering capital gains taxation, capital losses and inheritance taxation in the UK.

Personal tax planning

A clear, concise reference guide explaining the main principles and practice underlying personal tax planning in the UK.

Inheritance tax

Practical advice on the potential implications of business incorporation upon inheritance tax reliefs.

Inheritance tax and estates

Tax rates and tables for inheritance tax and estates, updated to reflect measures passed in the Finance Act 2022, the provisions in the National Insurance Contributions (Increase of Thresholds) Act 2022 and key measures announced at the Spring Statement on 23 March 2022.

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Representations

ICAEW REP 65/21: Tax Administration Framework Review

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 50/17

FB 2017 Changes relevant to non-UK domiciliaries

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