Inheritance tax: overview

Resource type: Practice note: overview

Status: Maintained

Jurisdictions: England, Wales

This practice note provides an overview of UK inheritance tax: when it is charged and the available reliefs and exemptions. It is intended as an introduction for those who are unfamilar with the charge, or as a refresher.

NOTE: This resource is being reviewed in light of the 2013 Budget. For more information, see Legal update, 2013 Budget: key private client tax announcements

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Resource ID: 3-383-5652
Products: PLC UK Private Client
This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.

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Topics

After DeathAfter Death (http://ld.practicallaw.com/8-383-2284)
Lifetime PlanningLifetime Planning (http://ld.practicallaw.com/1-383-2273)
TrustsTrusts (http://ld.practicallaw.com/0-383-2283)
WillsWills (http://ld.practicallaw.com/6-383-2275)

Practice note: overview

Employee benefit trusts: an overview Employee benefit trusts: an overview (http://uk.practicallaw.com/topic1-500-3984)
Inheritance tax agricultural property relief: overview Inheritance tax agricultural property relief: overview (http://uk.practicallaw.com/topic9-383-4485)
Inheritance tax transferable nil rate band: overview Inheritance tax transferable nil rate band: overview (http://uk.practicallaw.com/topic4-382-1329)
Taxation of UK trusts: overview Taxation of UK trusts: overview (http://uk.practicallaw.com/topic0-383-6634)

Practice notes

Domicile Domicile (http://uk.practicallaw.com/topic2-382-1603)
HMRC inheritance tax accounts: resources HMRC inheritance tax accounts: resources (http://uk.practicallaw.com/topic4-383-9678)
Inheritance tax agricultural property relief and business property relief: drafting points for wills Inheritance tax agricultural property relief and business property relief: drafting points for wills (http://uk.practicallaw.com/topic2-383-4573)
Inheritance tax agricultural property relief: lifetime gifts Inheritance tax agricultural property relief: lifetime gifts (http://uk.practicallaw.com/topic5-383-8145)
Inheritance tax agricultural property relief: the farmhouse Inheritance tax agricultural property relief: the farmhouse (http://uk.practicallaw.com/topic8-383-4400)
Inheritance tax: conditional exemption for heritage property Inheritance tax: conditional exemption for heritage property (http://uk.practicallaw.com/topic5-502-1028)
Inheritance tax: leaving 10% of an estate to charity Inheritance tax: leaving 10% of an estate to charity (http://uk.practicallaw.com/topic7-500-1086)
Interest rates Interest rates (http://uk.practicallaw.com/topic1-385-3996)
Tax data: inheritance tax Tax data: inheritance tax (http://uk.practicallaw.com/topic6-385-5460)
Taxation of UK trusts: IHT and CGT summary tables Taxation of UK trusts: IHT and CGT summary tables (http://uk.practicallaw.com/topic7-383-6635)
Wills: survivorship clauses and commorientes Wills: survivorship clauses and commorientes (http://uk.practicallaw.com/topic4-383-3025)

Standard documents

Inheritance tax: Briefing note Inheritance tax: Briefing note (http://uk.practicallaw.com/topic7-382-1605)
Inheritance tax: Briefing note, Exclusions, exemptions and reliefs Inheritance tax: Briefing note, Exclusions, exemptions and reliefs (http://uk.practicallaw.com/topic0-382-1604)
Where am I domiciled for tax purposes? Briefing notes for clients Where am I domiciled for tax purposes? Briefing notes for clients (http://uk.practicallaw.com/topic3-382-1607)
Will for single person, with drafting notes Will for single person, with drafting notes (http://uk.practicallaw.com/topic5-383-8372)

Standard clause

Will clause: gift of 10% of estate to one or more charities, with drafting notes Will clause: gift of 10% of estate to one or more charities, with drafting notes (http://uk.practicallaw.com/topic6-506-7285)

Books

Booth & Schwarz: Residence, Domicile and UK Taxation, 15th Edition Booth & Schwarz: Residence, Domicile and UK Taxation, 15th Edition (http://uk.practicallaw.com/topicB-000-0002)
Tax Planning for Farm and Land Diversification, 3rd Edition Tax Planning for Farm and Land Diversification, 3rd Edition (http://uk.practicallaw.com/topicB-000-0014)

Inheritance tax: overview

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