Inheritance Tax Act 1984 section 30

Conditionally exempt transfers

Section 30 provides an inheritance tax exemption for transfers of property that is of national heritage significance, provided the property is formally designated and the recipient gives undertakings to preserve and provide public access to it.

• A transfer of value is exempt from inheritance tax where the property is designated by the Treasury as being of national heritage significance and the appropriate person gives undertakings to preserve it, allow reasonable public access, and keep it in the UK.
• For lifetime transfers (as opposed to transfers on death), the exemption only applies if the transferor, their spouse or civil partner, or both together, have owned the property for at least six years before the transfer, or the transferor inherited the property on a previous conditionally exempt transfer.
• For potentially exempt transfers, no claim for conditional exemption can be made until the transferor has died, and the exemption is not available if the property has been sold between the date of transfer and the transferor's death.
• The conditional exemption does not apply where the transfer is already exempt as a spouse or civil partner transfer or as a gift to charity.

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