Heritage property strategies

Copyright © 2026 LexisNexis
Produced by Tolley in association with William Hadley at Boodle Hatfield LLP
Trusts and Inheritance Tax
Guidance

Heritage property strategies

Copyright © 2026 LexisNexis
Produced by Tolley in association with William Hadley at Boodle Hatfield LLP
Trusts and Inheritance Tax
Guidance
imgtext

Where an owner has claimed, or is considering claiming conditional exemption on heritage property, they may also wish to consider whether or not to establish a heritage maintenance fund; the income and capital of which may be used to support the conditionally exempt heritage property.

If, on the other hand, they decide that they or their descendants can no longer maintain the heritage property, they may consider disposing of the property by gift or sale to a charity or a body listed in IHTA 1984, Sch 3 or, alternately, to HMRC in lieu of tax.

Maintenance funds

As part of the policy to preserve national heritage property, heritage maintenance funds may be established. These settled funds, whose assets (usually not heritage property itself) and income are used for the maintenance of heritage property, receive advantageous IHT treatment.

Transfers of property into a maintenance fund are exempt transfers provided the maintenance fund meets the qualifying conditions set out below.

The property does not rank as relevant property for the purposes

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+™
TAKE A FREE TRIAL NOW
Powered by Tolley+™
  • 09 Dec 2025 09:40

Home/ Tolley Tax Guidance/ Trusts and Inheritance Tax / IHT planning

Popular Articles

Corporation Tax

Taxation of loan relationships

Taxation of loan relationshipsThe vast majority of companies will have loan relationships and so will need to consider how they are taxed under the loan relationship rules. There are also specific provisions dealing with relevant non-lending relationships and other deemed loan relationships.

14 Jul 2020 13:48 | Produced by Tolley Read more Read more
Corporation Tax

Qualifying charitable donations

Qualifying charitable donationsCompanies can obtain corporation tax relief for qualifying payments or certain transfers of assets to charity under the qualifying charitable donations regime. Definition of qualifying charitable donationThe definition of ‘qualifying charitable donations’

14 Jul 2020 13:03 | Produced by Tolley Read more Read more
Corporation Tax

Computation of corporation tax

Computation of corporation taxCompanies pay corporation tax on the taxable total profits (TTP) generated in a chargeable accounting period (CAP).To ascertain whether the entity is within the charge to corporation tax, see the Charge to corporation tax guidance note.For more information on the type

14 Jul 2020 11:16 | Produced by Tolley Read more Read more