Inheritance Tax Act 1984 Schedule 5 paragraph 5

Further undertaking on disposal

Paragraph 5 of Schedule 5 sets out the requirements for further undertakings that must be given in respect of objects and properties that have previously been granted conditional exemption from inheritance tax, covering what must be promised regarding their care, location and public access.

• A further undertaking must be given by an appropriate person approved by the Treasury, covering the period until the entitled person dies or the object or property is disposed of
• For exempt objects, the undertaking requires the object to be kept permanently in the United Kingdom, properly preserved, and made available for examination by Treasury-authorised persons
• For exempt land and buildings, the undertaking requires reasonable steps for maintenance, repair and preservation, and reasonable public access must be secured
• The Treasury may exclude from the research access requirement any documents that contain personal or otherwise confidential information, either wholly or in part