Conditional exemption relaxation

It has been confirmed that heritage properties usually open to the public in order to secure conditional exemption from inheritance tax should not view closure due to the coronavirus guidance as a breach of undertaking, even should this mean that a property has not been able to open in 2020.

If the situation improves HMRC would, if possible, expect the property to be open later in the year to make up for any lost days but would not expect additional open days to be held next year. If a conditionally exempted object is on loan to a museum or  gallery or other venue which closes, it will not be  treated as a withdrawal of public access to the object even if it means it is not on show at all in 2020. The Heritage Team at HMRC will revisit their advice as the situation changes.