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United Kingdom
United Kingdom
Key definition
Estate duty definition What does Estate duty mean? A historic UK tax charged on property passing on death and, in some cases, on lifetime transfers. estate duty was a statutory death duty created by the Finance Act 1894, replacing probate duty. Across England & Wales, Scotland and Northern Ireland, it ceased to apply to deaths on or after 13 March 1975, when capital transfer tax (CTT) was introduced; CTT was later replaced by Inheritance Tax (IHT) by the Finance Act 1986. In practice, the term now arises when reviewing older wills, settlements and title documentation (for example, “estate duty clauses” allocating the tax burden), and...
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UK landed estates: trust structures and IHT/CGT planning, including APR/BPR, PETs, heritage reliefs, and 2024–26 reforms (abolition of FHL regime; APR/BPR £2.5m cap)
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Practice notes
STOP PRESS relating to abolition of furnished holiday lettings relief :
Announced at the Spring Budget 2024 on 6 March 2024, and with draft legislation published at the Autumn Budget on 30 October 2024, the government is abolishing the furnished holiday lettings regime. Subject to transitional provisions, the reforms will:
- apply the finance cost restriction to loan interest connected with these properties;
- remove capital allowances for new expenditure (with relief for replacement of domestic items available instead);
- withdraw access to trading business asset chargeable gains relief; and
- exclude this property income from relevant UK earnings when calculating maximum pension relief.
From April 2025, income and gains from furnished holiday lettings will form part of a taxpayer’s UK or overseas property business and be treated accordingly. The measures are effective from 6 April 2025 for income tax and CGT, and from 1 April 2025 for corporation tax. See News Analysis: Autumn Budget 2024—Private Client analysis — Real estate taxes.
FORTHCOMING CHANGE relating to changes to APR and BPR :
At Autumn Budget 2024 on 30 October 2024, the government announced its intention to significantly reduce the level of APR and BPR on qualifying property from April 2026. Following consultation...
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Web page updated on 22/05/2026
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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...
I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...
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