Inheritance Tax Act 1984 Schedule 3

Gifts for national purposes, etc.

Schedule 3 lists the bodies and institutions to which gifts are exempt from inheritance tax, provided the property transferred becomes the property of one of those listed bodies.

• Gifts to named national museums and galleries (such as the National Gallery, British Museum, National Museums of Scotland, National Museum of Wales, and Ulster Museum) are exempt from inheritance tax.
• Gifts to other qualifying cultural, heritage and conservation bodies — including the National Trust, the National Art Collections Fund, the Historic Churches Preservation Trust, Natural England, Scottish Natural Heritage, and university libraries — are also exempt.
• Gifts to any local authority, any government department (including the National Debt Commissioners), any UK university or university college, and certain NHS health service bodies are exempt.
• The Treasury may approve other similar national institutions that exist wholly or mainly to preserve collections of scientific, historic or artistic interest for the public benefit, and gifts to such approved bodies will also be exempt.