IHT – tax planning scheme; HMRC error

October 2024 | Wills, probate and administration
Confusion or lack of communication at HMRC meant it was not permitted to pursue an IHT underpayment because a clearance certificate had been issued. An IHT-planning arrangement had been created just days before T’s death in 2011. She settled initial capital of £20,000 into a trust, which was also to receive a £1.4m term loan facility …
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