HMRC and IHT

Posted on 12 Nov 2013
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HMRC investigates 23% of IHT estatesA Freedom of Information request by financial planners Quilter shows that HMRC opens more than 5,000 IHT investigations a year, a figure representing 23% of the 22,000 estates that are hit by the tax. The Mail says “notoriously complicated rules” over IHT mean those liable for the levy have a one in four chance of being investigated. Gordon Andrews, tax and financial planning expert at Quilter, said that more often than not, people are not deliberately trying to defraud HMRC, adding that the complexity of the system means the fact there are errors is no surprise. “It can be hard to pinpoint those who intentionally don't pay any inheritance tax and those who misunderstood the system believing there was no tax to pay,” he added.

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