Tax Relief for Listed Buildings and Other Heritage Assets

Some buildings, land, works of art and other objects can be exempt from Inheritance Tax and Capital Gains Tax when they pass to a new owner either as the result of a death or as a gift. Further guidance on Inheritance Tax exemptions and reliefs policy, and Capital Gains Tax reliefs policy for national heritage property is published by HM Revenue and Customs.

The conditions and qualifications are a matter of some complexity and specialist advice should be sought by anyone who believes they may qualify for relief. 


As from 1 October 2012 VAT at the standard rate (20%) applies to all materials and services supplied in the course of approved alterations to listed buildings or scheduled monuments.

Previously the cost of approved alterations was zero rated for VAT. There are transitional provisions providing relief from the effects of the change in some circumstances up to 30 September 2015.