HMRC IHT & Trusts Newsletter - August 2007
21st August 2007
HMRC have released their latest IHT and Trusts newsletter
Now that IHT and Trusts are together at HMRC, the newsletter is a combined one. In this issue (amongst other things):
- They notify practitioners of a problem with non-completion of Box 9A.1 of the Trusts and Estates Return
- Notes are given about excepted estates, including cases where there is an instrument of variation by the beneficiaries of the second spouse or civil partner to die of the estate of the first to die
- They warn that a definitive answer about a person’s domicile cannot be given by agents over the telephone
- They warn that from now until 31st March 2008, when examining an IHT200 after a death,they will be paying close attention to lifetime transfers
- They give notice that the excepted estate limit is £300,000 for deaths on or after 6 April 2007, on an application for a grant made on or after 6 August 2007
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