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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 02/15

Capital taxes liaison group minutes

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

Farm business tenancies after Brexit

Julie Butler and Libby James investigate how farm business tenancies (FBTs) and contract farming arrangements (CFAs) will be affected as we move from the EU’s common agricultural policy to a new farm support system, with reference to inheritance tax and capital gains tax.

Tax news in brief

Highlights from the broader tax news week ending 28 July, which includes the opportunity to attend a free webinar from the Office of Tax Simplification updating on its work and confirmation from HMRC of which inheritance tax forms are not available online.

Inheritance tax reform

Freezing inheritance tax thresholds was not widely anticipated ahead of the Spring 2021 Budget. Lindsey Wicks considers how the move will affect post-pandemic government revenue and social mobility, and reviews reports on inheritance and capital taxation from the Institute for Fiscal Studies, the Treasury Select Committee and the OECD.

Property valuations: Too high?

HMRC valuations of land and buildings involving development value should be critically reviewed and challenged where necessary, says Mark McLaughlin.

COVID-19 and the future of tax

How will the Exchequer cover the costs of the economic support and stimulus packages caused by the pandemic? A reduction in defence spend, changes to business rates, corporation, capital gains and inheritance taxes; a wealth tax?

Complex Farm Partnership Cottage Transactions – The Need to Identify the Legal and Tax Position Now

Much has been written in the press about how much the country cottage has become attractive in “lockdown” with “working at home” arrangements. Matters have been helped by the Stamp Duty Land Tax “holiday” which has been extended to 30 June and again in the period to 30 September. The exemption in the final period will be kept at £250,000 and return to £125,000 from 1 October.

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.

Inheritance tax and estates

Tax rates and tables for inheritance tax and estates, updated in line with the Finance Act 2021.

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.

Capital taxes

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

Inheritance tax

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

Personal tax planning

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

Business property relief

Practical advice on business property relief issues in relation to inheritance tax planning.

Pensions and life assurance

Chapter providing practical advice on pensions and life assurance in relation to inheritance tax planning.

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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.

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