Tag: estate

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 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...

New ISA Rules for Deceased Estates

Executors need to be aware of new rules relating to Individual Savings Accounts (ISAs). The rules were published in November 2017, but they will come into force on the 6th of April this year. As from that date any investments that are held in an ISA wrapper will not...