Documents related to 'Claim for quick succession relief'
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IHT fall in value relief for shares checklistWhere a sale or transfer of shares or other qualifying investments is made within one year of death at a value less than they had for probate, inheritance tax (IHT) can be recalculated using the lower valu... Read more
07 Jul 2020
Transferable nil rate band checklistWhen one spouse dies before the other, any unused nil rate band can be transferred to their surviving spouse. But HMRC will require details of the inheritance tax history of the first death in order to agree any cl... Read more
18 Mar 2015
IHT claim for fall in value relief for land and buildingsWhere, within four years of the date of the deceased's death, a property in their estate is sold at open market value for less than probate value, you can make a claim to recalculate the inherit... Read more
14 Feb 2018
Failed potentially exempt transfer - fall in value claimGifts between individuals are potentially exempt transfers (PETs) for IHT purposes. This means that there's no IHT to pay at the time, but if you die within seven years the full value of the ... Read more
12 Dec 2016
Flow chart- inheritance tax - gifts during lifetimeIf you give money, investments or other assets away it can trigger an immediate inheritance tax (IHT) charge. However, there are many exemptions and exceptions. If none of them apply it still does no... Read more
15 Dec 2020
IHT spouse's domicile electionWhere one spouse or civil partner is UK domiciled for inheritance tax (IHT) purposes (UK-dom) and the other is not (UK non-dom), the IHT spouse exemption for transfers is capped instead of unlimited. To remove the cap the... Read more
02 Jun 2017
Company trading status reportBusiness property relief is available on shares in unquoted companies if certain conditions are met. This means 100% of the market value of those shares will escape inheritance tax. However, HMRC can take this relief away... Read more
29 Jun 2009
Letter notifying reduction of EIS reliefIf you make a qualifying investment under the enterprise investment scheme (EIS), there are a number of things that can happen during the minimum holding period that lead to relief being reduced or fully withdr... Read more
25 Oct 2017
Lottery syndicate agreementAre you in a lottery syndicate? Did you know that any winnings (football pools, National Lottery etc.) by the syndicate leader are potentially chargeable to inheritance tax as part of their estate? So what do you need to pu... Read more
26 Aug 2009
Flow chart - tax relief for loan interest An individual is entitled to tax relief against their general income for interest paid on loans or other advances (known as alternative finance) which are used for qualifying purposes. These are limited and s... Read more
15 Dec 2020
