Inheritance Tax Act 1984 (Amendment) (Siblings) Bill [HL]

Key Points

• Amends the Inheritance Tax Act 1984 to exempt transfers between siblings in defined circumstances.
• The exemption would apply to sibling transfers under the rules set out in the bill.
• Originates in the House of Lords and is currently at the 2nd Reading stage in the Lords.
• If enacted, the measure would need to pass through the Lords and then be considered by the House of Commons for approval.

Progress

The bill is currently at the 2nd Reading in the House of Lords and would need to progress through further readings in the Lords and then through the Commons to become law.