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Inheritance tax - articles

Features and articles from ICAEW related to inheritance tax in the UK personal tax regime.

Displaying 1-30 of 54 results
INSIGHTS VIEWPOINT Five tips for dealing with HMRC: trusts, estates and IHT
  • Mar 2025
  • ICAEW Insights
Following a meeting with HMRC’s trust and inheritance tax (IHT) teams, ICAEW’s Tax Faculty has pulled together five tips which may help taxpayers and agents to complete tasks more quickly and HMRC to make best use of its resources.
INSIGHTS VIEWPOINT Government considers impact of inheritance tax reforms on trusts
  • Feb 2025
  • ICAEW Insights
The government is consulting on how its proposed changes to agricultural property relief (APR) and business property relief (BPR) will apply to property settled into trust.
INSIGHTS VIEWPOINT Online marketplace sellers may have tax to pay
  • Feb 2025
  • ICAEW Insights
HMRC is writing to individuals who may have tax to pay on online marketplace sales made in 2022/23 and earlier tax years. Separately, HMRC has launched a new campaign to help people understand the tax implications of their ‘side hustles’.
Tax news in brief 26 February 2025
  • Feb 2025
  • ICAEW Insights
Highlights from the broader tax news for the week ending 26 February 2025, including: a new feature in the agent services account (ASA); and an opinion from the general anti-abuse rule (GAAR) advisory panel on inheritance tax (IHT) arrangements.
INSIGHTS VIEWPOINT TECHNICAL ROUND UP Technical round-up: January 2025
  • Jan 2025
  • ICAEW Insights
This month’s top stories feature Parliament accusing HMRC of damaging trust in the tax system; a warning to not respond to a fraudulent agent services text message; and more from the How to fix VAT campaign.
INSIGHTS VIEWPOINT MEMBER INSIGHTS Member Insights: January 2025
  • Jan 2025
  • ICAEW Insights
The effects of the Autumn Budget measures are trickling through and driving a slump in business confidence, resulting in a muted appetite for investment.
INSIGHTS VIEWPOINT 31 January deadline for public sector pension scheme members
  • Jan 2025
  • ICAEW Insights
ICAEW explains why 31 January 2025 is a key deadline for members of public sector pension schemes disclosing McCloud tax charges and highlights HMRC guidance on completing the 2023/24 tax return where a pension statement is received late.
INSIGHTS VIEWPOINT ICAEW’s view on plans to charge IHT on pensions
  • Jan 2025
  • ICAEW Insights
ICAEW is concerned that the proposed processes for bringing more pensions within the scope of inheritance tax (IHT) will cause delays in payouts to beneficiaries and place a significant administrative burden on pension scheme administrators (PSAs).
INSIGHTS VIEWPOINT MEMBER INSIGHTS Member Insights: October/November 2024
  • Nov 2024
  • ICAEW Insights
The Autumn Budget met with much criticism by members, with the impact of employers’ national insurance and the national living wage dominating feedback. Meanwhile, announcements on business rates and incentives for growth were conspicuous by their absence.
Exclusive FARMING AND RURAL BUSINESS COMMUNITY Further thoughts on the Halloween Budget
  • Nov 2024
  • David Missen
  • Farming and Rural Business Community News
Now that the dust has settled, at least temporarily, on the Autumn Budget, it is worth looking at the implications for those taxpayers who are likely to be affected.
INSIGHTS VIEWPOINT TECHNICAL ROUND UP Technical round-up: October 2024
  • Oct 2024
  • ICAEW Insights
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.
INSIGHTS VIEWPOINT ICAEW welcomes increased funds for HMRC in Autumn Budget
  • Oct 2024
  • ICAEW Insights
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.
INSIGHTS VIEWPOINT Autumn Budget makes significant changes to inheritance tax
  • Oct 2024
  • ICAEW Insights
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 TAX FACULTY Cryptoassets: international tax issues
  • Oct 2024
  • Dion Seymour, James Carn and Yuri Hamano
  • Taxline
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.
PROFESSIONAL STANDARDS DEPARTMENT HMCTS Probate Service User Group update
  • Sep 2024
  • Professional Standards Department
ICAEW, along with other group members, met with the senior team at HM Courts and Tribunals Service (HMCTS) in September. In this article, Rachel Clements, ICAEW Regulatory Policy Manager, shares the latest updates from HMCTS on a range of topics of interest to practitioners, including current service levels between April and July.
INSIGHTS VIEWPOINT Improved processes for trusts and estates
  • Sep 2024
  • ICAEW Insights
Updates to forms should make it easier to inform HMRC of a chargeable event for inheritance tax (IHT), and to speed-up probate applications and dealing with an estate.
Exclusive FARMING AND RURAL BUSINESS COMMUNITY Butler & Others v HMRC [2023]
  • Jul 2024
  • Lucy de Greeff
  • Farming and Rural Business Community News
The result of a recent First Tier Tribunal case on a failed claim for 100% Business Property Relief (BPR) on an interest in a Limited Liability Partnership (LLP) which ran a wedding business will be of interest to members and rural businesses alike.
Exclusive FARMING AND RURAL BUSINESS COMMUNITY Clarity on the tax treatment of land held in environmental schemes
  • Apr 2024
  • David Missen
  • Farming and Rural Business Community News
It seems a long time ago that the consultation on the taxation of environmental land management schemes was launched. The consultation period ended in June and, after what must have been considerable contemplation, a response was issued within the appendices to the March 2024 Budget.
INSIGHTS VIEWPOINT New guidance on applying for help with paying IHT
  • Apr 2024
  • ICAEW Insights
HMRC has published guidance on applying for a grant on credit and on recent updates to tax rules and processes relevant to trusts and estates.
Tax news in brief 24 January 2024
  • Jan 2024
Highlights from the broader tax news for the week ending 24 January 2024, including: time to pay arrangements; preparing for changes on moving goods from Ireland to Great Britain; HMRC research on VAT penalty reform; insolvency guidance on operating PAYE; and updates to the process for applying for probate.
PERSONAL FINANCIAL PLANNING COMMUNITY Trusts – their use in Personal Financial Planning
  • Jan 2024
  • Anthony McManus
An explanation of the role of trusts in personal financial planning.
PROFESSIONAL STANDARDS DEPARTMENT HMCTS update on delays in probate applications
  • Nov 2023
  • Professional Standards Department
  • Probate News
As a member of the Probate Service User Group, the ICAEW Regulatory Policy team regularly meet with Her Majesty's Courts and Tribunals Service (HMCTS) to raise your questions and feedback. Find out what improvements are being planned for Autumn 2023 in HMCTS.
Exclusive FARMING AND RURAL BUSINESS COMMUNITY Development land tax pitfalls – deferred consideration
  • Oct 2023
  • Julie Butler
  • Farming and Rural Business Community News
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.
FACULTIES ONLINE TAX FACULTY TAX NEWS IFS examines options for reforming inheritance tax
  • Oct 2023
  • ICAEW
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).
Exclusive TAX FACULTY Home loan schemes under the spotlight
  • Sep 2023
  • Andrew Cockman
  • Taxline
Andrew Cockman reviews the recent Elborne First-tier Tribunal decision and considers the practical impacts the case may have for practitioners with clients who still have home loan schemes in place.
Exclusive TAX FACULTY Inheritance tax: pitfalls and planning points
  • Aug 2023
  • Mei Lim Cooper
  • Taxline
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.
FACULTIES ONLINE TAX FACULTY TAX NEWS Have your say: HMRC consultation on employee ownership trusts and employee benefit trusts
  • Aug 2023
  • ICAEW
Reforms to the tax treatment of EOTs and EBTs proposed in the paper are intended to focus the rules more effectively on the policy objectives of rewarding employees and encouraging more employee engagement. Another objective is to prevent tax advantages being obtained through the use of these trusts outside their intended purposes.
FACULTIES ONLINE TAX FACULTY TAX NEWS HMRC guidance on digital records and signatures
  • Jul 2023
  • ICAEW
HMRC confirmed its position on digital records and signatures in Agent Update 110. ICAEW’s Tax Faculty is encouraging HMRC to conduct a wider review of this area.
Tax and tax alike: postcards from abroad
  • Jul 2023
  • ICAEW Insights
The UK’s national tax burden is on the up and people’s expectations of fiscal policy are shifting. We tour the globe to discover how the UK’s taxes compare internationally.
PRACTITIONER BUSINESS ADVISERS COMMUNITY PRACTICE DEPARTMENT Time limit for negligence payments
  • Apr 2023
  • Bloomsbury Professional
Mark McLaughlin, Bloomsbury Professional author, looks at the time limit for damages claims in respect of negligent tax advice and warns that it could be much longer than many practitioners might assume.
Displaying 1-30 of 54 results
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