Inheritance tax

  • Main residence nil-rate band: provisions to deal with downsizing, for deaths on or after 6 April 2017 where downsizing took place on or after 8 July 2015.
  • Undrawn funds in drawdown pensions: change to ensure no IHT charge when scheme member designates funds for drawdown, but does not draw all the funds before death, for deaths on or after 6 April 2011.
  • Gifts for national purposes: approval function transferred from Her Majesty’s Revenue and Customs (HMRC) to the Treasury.
  • Objects of national, scientific, historic or artistic interest: various technical changes affecting items benefitting from an exemption under the old estate duty rules, from various dates.
  • Exemption for payments to victims of World War II persecution: extra-statutory concession legislated for deaths on or after 1 January 2015.