HMRC Inheritance Tax: Heritage Assets and Inheritance Tax

Exemption from Inheritance Tax can be claimed where the transfer involves qualifying heritage assets. The exemption may be granted if certain undertakings are given.

Exemption is also available where qualifying heritage assets are transferred into an approved trust fund established for the maintenance of a qualifying heritage building. Again the exemption depends upon the provision of certain undertakings.

The undertakings include allowing the public access to the exempted asset. A searchable database of the exempt items which can be viewed by the public is available at the Register of Conditionally Exempt works of Art.

The Inheritance Tax laws relating to heritage were revised by the 1998 Finance Act. Further information about public access requirements under the Finance Act 1998 can be found in the IHT Manual Annex.