HMRC’s Inheritance Tax newsletter
HMRC have issued a newsletter relevant to inheritance tax and trusts. The main topics covered in the newsletter are as follows:
- An update on the move towards HMRC using an automated system for Self Assessment Trust returns filed online.
- Details of the amended version of the inheritance tax toolkit which is expected to become available in September.
- National heritage property. An update relevant to taxpayers offering national heritage property in satisfaction of their inheritance tax liability.
- Details of new and recently updated trust forms.
- An update to the guidance on obtaining professional valuations of land and buildings including comment as to what HMRC will accept as a correct valuation.
- The launch of a new dedicated line for trusts agents.
- Ensuring that the name of the deceased is correctly recorded.