HMRC announces changes to IHT reporting requirements

Published on: 29 October 2021

Published by a

Specialist Tax Regulatory Materials

Article summary

HMRC have published a policy paper and a technical note concerning the changes to Inheritance Tax (IHT) reporting requirements. The changes involve a widening of the circumstances when a full IHT account need not be delivered to HMRC where a deceased was domiciled in the UK. This reduces the information that those administering the estates are required to report. HMRC further clarified the reporting requirements for estates where the deceased was never domiciled in the UK, and aligned the period in which HMRC may make enquiries into estates where accounts are not required. The new measure will have effect and apply to deaths on and after 1 January 2022.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

News

Guidance

Popular Articles

Personal Tax

Married couple’s allowance

Married couple’s allowanceThe married couple’s allowance (MCA) is only available if one of the two spouses or civil partners was born before 6 April 1935. This means that one member of the couple must be at least 89 years old on 5 April 2024 to qualify for an allowance in the 2023/24 tax year.There

14 Jul 2020 12:13 | Produced by Tolley Read more

Personal Tax

Gilts

Gilts‘Gilts’ are securities that are also known by a number of different names (eg gilt-edged securities, Government securities or treasury stock).The Government sells gilts to fund the deficit between public spending and tax receipts. Normally, the Government pays interest to the holder of the gilt

14 Jul 2020 11:48 | Produced by Tolley Read more

Corporation Tax

Indexation allowance and rebasing

Indexation allowance and rebasingThis guidance note explains the general rules surrounding the availability of indexation allowance (which was frozen at December 2017) on the disposal of company assets and provides information on the rebasing rules for assets held on 31 March 1982. For an overview

14 Jul 2020 11:59 | Produced by Tolley in association with Jackie Barker of Wells Associates Read more

��˾��ҹ��