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Inheritance Tax Reliefs Reform

HM Revenue & Customs is reforming inheritance tax reliefs, including changes to agricultural property relief (APR) and business property relief (BPR) that affect farmers and business owners. The reform also addresses anti-avoidance measures for non-long-term UK residents, trusts, and extends relief for infected blood compensation payments. This is an active policy area with ongoing engagement with farming representatives on implementation impacts.

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Family: Consultations
7 Oct 2022 | Consultation (closed) HM Revenue & Customs linked

(Draft) The Insurance Contracts (Tax) (Change in Accounting Standards) and the Finance Act 2022 (Part 2 of schedule 5) Commencement and Transitional Provisions Regulations 2022 — consultation closed

We welcome views on the draft tax regulations to spread the transitional impact of IFRS 17 and revoke the requirement for life insurance companies to spread acquisition expenses over 7 years for tax purposes.

▤ View document · ↗ GOV.UK · ↓ (Draft) The Insurance Contracts (Tax) (Change i…
26 Sep 2022 | Consultation (closed) HM Revenue & Customs linked

(Draft) The Insurance Contracts (Tax) (Change in Accounting Standards) and the Finance Act 2022 (Part 2 of schedule 5) Commencement and Transitional Provisions Regulations 2022 — consultation opened

We welcome views on the draft tax regulations to spread the transitional impact of IFRS 17 and revoke the requirement for life insurance companies to spread acquisition expenses over 7 years for tax purposes.

▤ View document · ↗ GOV.UK · ↓ (Draft) The Insurance Contracts (Tax) (Change i…
15 Jan 2020 | Consultation outcome HM Revenue & Customs linked

Draft regulations: maturing Child Trust Funds — outcome published

This technical consultation seeks views on draft regulations which will ensure that funds in maturing Child Trust Fund accounts can retain their tax-advantaged status after maturity.

▤ View document · ↗ GOV.UK · ↓ Technical consultation document: maturing Child… (3pp)
+4 more
↓ (Draft) The Child Trust Funds (Amendment No. X) Regulations… (3pp) ↓ (Draft) The Individual Savings Account (Amendment No. X) Re… (3pp) ↓ Tax information and impact note (3pp) ↓ Summary of responses (13pp)
11 Aug 2019 | Consultation outcome HM Revenue & Customs linked

Draft regulations: maturing Child Trust Funds — consultation closed

This technical consultation seeks views on draft regulations which will ensure that funds in maturing Child Trust Fund accounts can retain their tax-advantaged status after maturity.

▤ View document · ↗ GOV.UK · ↓ Technical consultation document: maturing Child… (3pp)
+4 more
↓ (Draft) The Child Trust Funds (Amendment No. X) Regulations… (3pp) ↓ (Draft) The Individual Savings Account (Amendment No. X) Re… (3pp) ↓ Tax information and impact note (3pp) ↓ Summary of responses (13pp)
6 Jun 2019 | Consultation outcome HM Revenue & Customs linked

Draft regulations: maturing Child Trust Funds — consultation opened

This technical consultation seeks views on draft regulations which will ensure that funds in maturing Child Trust Fund accounts can retain their tax-advantaged status after maturity.

▤ View document · ↗ GOV.UK · ↓ Technical consultation document: maturing Child… (3pp)
+4 more
↓ (Draft) The Child Trust Funds (Amendment No. X) Regulations… (3pp) ↓ (Draft) The Individual Savings Account (Amendment No. X) Re… (3pp) ↓ Tax information and impact note (3pp) ↓ Summary of responses (13pp)