The following Trusts and Inheritance Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
There has been a long-standing exemption from inheritance tax (and earlier versions of death duties) for the estates of armed forces personnel who die in conflict or as a result of injuries sustained in the line of duty. The exemption was extended in Finance Act 2015 to:
IHTA 1984, s 154
There are now three categories of exemption:
The qualifying conditions and means of application for the exemption are separately specified for each category as described below. However, in all three categories, the cause of death and the extent of the exemption are the same.
The reliefs apply where a person dies from either:
IHTA 1984, ss 153A(1), 154(1), 155A(1)
The original provisions relating to armed forces refer to a ‘wound inflicted’ instead of ‘injury sustained’. Where death is due to a wound (or injury), it need not be
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