2022 Bullet Point Update 4 – Inheritance Tax “Excepted Estates” Expanded from January 2022 PART 2

Apr 21, 2022 | Bullet Point Update

  Note: references below to a “spouse” include a civil partner IHT accounts & “excepted estates” Following a person’s death Inheritance Tax (“IHT”) may be payable. So that HMRC can keep tabs on this the deceased’s executor has to deliver an IHT account to...

Bullet Point Update 3 – Inheritance Tax “Excepted Estates” expanded from January 2022 PART 1

Apr 21, 2022 | Bullet Point Update

  Note: references below to a “spouse” include a civil partner Introduction to IHT accounts & “excepted estates” Following a person’s death Inheritance Tax (“IHT”) may be payable. So that HMRC can keep tabs on this the deceased’s executor has to deliver an...

May 2021 – Trust Registration

May 15, 2021 | Bullet Point Update

  Under the EU Fourth Anti-Money Laundering Directive only trusts with a UK “tax consequence” (or deceased’s estates which counted as “complex estates”) needed to be registered with HMRC’s online Trust Registration Service (“the TRS”). Importantly however, the...

December 2020 – A Wealth Tax? Are you Bovvered?

Dec 10, 2020 | Bullet Point Update

The Wealth Tax Commission was established in Spring 2020 to consider proposals for a UK wealth tax. It published its final report this month. The prospect of a Wealth Tax could be met with varied responses; for example: “am I bovvered?” or “nice problem to have”. But...

Inheritance Tax exceeds £5 Billion for the First Time

Sep 18, 2018 | Blog

HM Revenue & Customs recently released data which showed Inheritance Tax (IHT) raised a record £5.2 billion in the financial year 2017-18, up 8% from the previous tax year. It is thought that the increase is due to the fact that property prices have continued to...