IHT errors

Posted on 12 Feb 2014
Share Blog Post
Taxman deems £600m of gifts ineligible for IHT reliefAnalysis shows that almost 2,000 people who made more than £600m in gifts have been deemed ineligible for inheritance tax relief in the past five years. While property and other assets can be gifted tax-free if the gift giver survives for at least seven years, HMRC can levy a tax charge if it discovers that the person continued to live in the property or continued to benefit from the assets given away. A total of 1,830 gifts worth £624m have been deemed a "gift with reservation of benefit" since 2016, meaning no tax break applies and the asset will be counted as part of the giver’s estate.

View more blog posts

MTD extended
Posted on 01 Mar 2024
MTD extended
read more
Interest rate strategy
Posted on 27 Feb 2024
Interest rate strategy
read more
Tax investigations reduced
Posted on 26 Feb 2024
Tax investigations reduced
read more
High taxes hurt
Posted on 23 Feb 2024
High taxes hurt
read more
Back To Top
01604 660661