HMRC Website update: Inheritance Tax
HMRC have added a further update to the Inheritance Tax pages on its website which have been designed to provide taxpayers with a more thorough overview of Inheritance Tax.
The new pages provide additional information and guidance on:
- How to value estates for Inheritance Tax; including details on how to value gifts, joint property and assets, debts and liabilities, land and buildings and stocks and shares.
- Deciding whether a full Inheritance Tax account is required even if the deceased’s estate doesn’t owe Inheritance Tax
Also covered on the Inheritance Tax pages are the thresholds, details of how to make payments and all the relevant Inheritance Tax and probate forms. There is also a section on the interaction between trusts and inheritance tax explaining when inheritance tax applies to trusts and when it doesn’t.
This update is part of a rolling program by HMRC to update website content.