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HMRC have released a policy paper extending the circumstances where information can be provided to HMRC in place of full Inheritance Tax (IHT) accounts. Certain definitions have also been clarified and time limits extended.

The revisions will apply to deaths in England, Wales and Northern Ireland from 1 January 2022 and are as follows:

Useful guides on this topic

IHT: Estate planning checklist
This checklist covers some of the essential planning points that taxpayers should know when planning for their estate and Inheritance Tax (IHT).

IHT (Inheritance Tax): allowances & rates
This is a freeview 'At a glance' guide to Inheritance Tax (IHT) rates and allowances.

IHT: Transferable Nil-Rate Band
What is the Transferable Nil-Rate Band? Who does it apply to? How do I claim it?

Non-domicile status, deemed domicile & tax
Who is non-UK domiciled? What does this mean for UK Income Tax, Capital Gains Tax and Inheritance Tax? What reliefs are available to non-doms?

IHT: Gifts
This is a freeview 'At a glance' guide to the IHT implications of making gifts.

Client Briefing: Making gifts & IHT
What gifts can you make without triggering Inheritance Tax (IHT)? What are the rules on making tax-effective gifts for IHT purposes?

IHT: Normal Expenditure Out of Income (gifts)
When is Normal Expenditure out of Income exempt for Inheritance Tax (IHT)? How do you claim the exemption?

External Links

Inheritance Tax: Reduced reporting requirements - policy paper


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