Inheritance Tax Act 1984 section 24A

Gifts to housing associations

Section 24A provides an inheritance tax exemption for gifts of UK land to registered social landlords and registered housing associations.

• Transfers of value are exempt to the extent that the value transferred is attributable to land in the United Kingdom given to a qualifying housing body
• Qualifying bodies include registered social landlords in England and Wales, and registered housing associations in Scotland and Northern Ireland
• There is no upper limit on the value of the exemption
• The same anti-avoidance rules that apply to gifts to charities and political parties also apply, preventing connected persons from benefiting from the gifted property or the property being used for non-qualifying purposes

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