Category: Inheritance Tax

Guidance For Avoiding Delays to Processing Your IHT400

If you want to be sure that HMRC will stick to the timescales it has given on processing IHT400 accounts, then you should make sure you follow the guidance below. You need to make sure that when you submit Form IHT400 that you give all the information that HMRC...

Changes To HMRC Process For Inheritance Tax Clearance

In their latest newsletter, Her Majesty’s Revenue and Customs (HMRC) has announced that they will no longer issue their standard clearance letter when they have finished their checks. Instead, if you want to apply for clearance, they say you should use Form IHT30 to do so. Their detailed guidance...

HMRC Announces Improvements to Process and Timescales for IHT 400 Processing

Her Majesty’s Revenue and Customs (HMRC) Trusts and Estates, acting on feedback from the profession, has announced changes to how it processes inheritance tax accounts. The main changes relate to: 1) How long it takes to process the inheritance tax account (IHT400) 2) How long it takes to let...

HMRC Timetable for Processing IHT400

In its latest guidance, Her Majesty’s Revenue and Customs (HMRC) has issued new guidance for the timetable to processing IHT400 (inheritance tax account) forms. Use the timetable to find out when to expect to hear about your form IHT400. Download the timetable here....

Residence Nil Rate Band Is Now £125,000 But Will You Get It?

The Residence Nil Rate Band (RNRB) is now £125,000 but the question is, have you organized your affairs to ensure you will benefit? Or do you have provisions in your Will that mean your estate will not have the additional £125,000 free of inheritance tax? Are you unwittingly arranging...

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Ken Dodd’s Revenge on the Tax Man

Much loved British comedian, Sir Ken Dodd, died recently but it was what he did on his deathbed that grabbed the headlines. As tributes flooded in, estate planning professionals like me were chuckling over his last minute goal against the tax man. On trial for tax fraud in 1989...