Inheritance Tax

by Andrew Law
access120 days access
cpd hours4 CPD hours

This course will enable you to:

  • Establish whether an estate is subject to Inheritance Tax
  • Calculate the scale of the tax likely to be payable
  • Understand the primary reliefs available
  • Identify common planning steps to alleviate the tax exposure

This course has been revised and is up to date for 2021-22

As an accountant, your role in inheritance tax (IHT) is the strategic structuring of a client's wealth and business interests. However, this can be complicated, not only because IHT has a language all of its own but because there is a lot to get to grips with. From IHT liability and property reliefs, to further planning opportunities using trusts. There is a lot you will need to know to guide your clients.

In this course, you will get an introduction to inheritance tax, and the various issues surrounding it. This includes the treatment of potentially exempt transfers, the ways in which agricultural property relief and business property relief can be maximised, and the use of trusts. You will also be learning about the various exemptions from inheritance tax, and how the seven-year waiting time can affect this.

IHT scope

  • What is domicile?
  • Assets subject to IHT
  • Calculating IHT
  • PETs
  • The residence nil rate band

Property relief

  • Agricultural property
  • AR rates
  • Business relief
  • BR rates
  • How to maximise AR and BR

Other reliefs and opportunities

  • Gifts to charities
  • Gifts exempt from IHT
  • Gifts of income
  • Tax preferred investments
  • Life assurance policies


  • What is a trust?
  • Transfers made to trusts
  • Exit charge
  • Trusts and IHT planning
  • CGT holdover relief
  • Property with high growth potential
  • Flexible spouse trusts

Andrew Law is a senior manager in tax consultancy with Albert Goodman Chartered Accountants in Taunton. He has been in professional tax practice for over 30 years advising SME business on taxation matters and has advised on the sale and purchase of numerous businesses of all kinds and sizes. He has also bought and sold businesses of his own so that the advice he delivers is both technically accurate and at the same time workable in practice.

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ACCA partner with to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.

Verifiable CPD
Your course counts as verifiable CPD, if you can answer "yes" to these questions:

  1. Was the learning activity relevant to your career?
  2. Can you explain how you will apply the learning in the workplace?

You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.