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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.

Technical round-up: October 2024
  • Article
  • 31 Oct 2024
This month’s top stories feature eight Budget updates covered by ICAEW’s Tax Faculty, a list of software products that are now ready for MTD ITSA, and new VAT guidance for private schools.
ICAEW welcomes increased funds for HMRC in Autumn Budget
  • Article
  • 30 Oct 2024
HMRC has received additional investment, with its budget for 2024/25 increasing from £4.7bn to £5.2bn, and its initial budget for 2025/26 set at £5.8bn. However, HMRC is expected to make savings of £107m in 2025/26 from continuous improvement.
Autumn Budget makes significant changes to inheritance tax
  • Article
  • 30 Oct 2024
The government has announced that the inheritance tax (IHT) nil rate band will be fixed for a further two years, business property relief (BPR) and agricultural property relief (APR) will be reformed and the exemption for pensions will be removed.
Exclusive Cryptoassets: international tax issues
  • Article
  • 03 Oct 2024
In the second of a series of articles on cryptoassets, members of ICAEW’s digital assets working party explain the key international tax considerations for individuals holding cryptoassets and for cryptoasset businesses.
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Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising around 80 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 Trusts and estates
  • eBook chapter
  • 2024
  • The TACS Partnership
  • Bloomsbury Professional Tax Guide
Five chapters on trusts and estates, including coverage of income tax and trusts, capital gains tax and trusts, and inheritance tax and trusts.
Exclusive Inheritance tax and estates
  • eBook chapter
  • 2024
  • Lucy Webb
  • Bloomsburys Tax Rates and Tables
Tax rates and tables for inheritance tax and estates, updated to reflect measures passed in the Finance (No 2) Act 2024.
Exclusive Bloomsbury's tax rates and tables 2024/25: Finance (No. 2) Act Edition
  • eBook
  • 2024
  • Lucy Webb
Tax rates and tables updated to reflect measures passed in the Finance (No 2) Act 2024.
Exclusive Succession planning and passing on the family or owner-managed company
  • eBook chapter
  • 2024
  • 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.
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 Private client: wills, trusts and estate planning 2024
  • eBook
  • 2024
  • Lesley King
Provides a comprehensive 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 and gift taxes
  • eBook chapter
  • 2023
  • IBFD
  • Global Individual Tax Handbook
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
  • The Telegraph Tax Guide
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
  • The Telegraph Tax Guide
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 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 tax guide, 2024-25
  • Library book
  • 2024
  • 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.
Tolley's inheritance tax, 2024-25
  • Library book
  • 2024
  • 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 yellow tax handbook, 2024-25
  • Library book
  • 2024
  • 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.
Inheritance tax: lifetime transfers and the death estate, 2024-25
  • Library book
  • 2024
  • K. Speight
  • 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).
How to save inheritance tax, 2024/25
  • Library book
  • 2024
  • 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.
Simple ways to avoid inheritance tax: legitimately keeping more of what's yours from HMRC
  • Library book
  • 2024
  • Indicator FL Memo
  • Indicator FL Memo
A brief book aimed at individuals seeking to optimise their tax position when passing on their wealth. The authors explain what events and transactions trigger inheritance tax, how it's calculated, what it applies to, and what one can do to minimise it or avoid it all together.
Residence: the definition in practice, 5th ed.
  • Library book
  • 2024
  • K. Gordon
  • Claritax
A guide to how the statutory residence test (SRT) is applied in practice. The test is most relevant to income tax and capital gains tax, but in some circumstances may also apply for inheritance tax and corporation tax purposes.
Making gifts of assets: the legal considerations
  • Library book
  • 2024
  • M. Culver
  • Law Society
A guide to the key legal considerations that solicitors ought to take into account when advising clients on making gifts. Includes practical examples of tax and estate planning with gifts, as well as references to relevant recent case law.

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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