HMRC have recently published the August edition of their IHT and trusts newsletter. Extracts from the newsletter follow.
Transferable nil rate band
HMRC remind agents that they should provide the supporting details listed in the IHT216 claim form to support the claim for relief. So far in only 20% of cases submitted by agents are all the requested documents provided. Without the requested documents the claim cannot be processed causing delay to the issue of the D18/C1 increasing costs for HMRC and the estate unnecessarily.
Excepted estates
HMRC are piloting a new process where they compare the data provided on death with data the deceased provided to HMRC during their lifetime and information from other sources. They say that they will be focussing attention on estates where this information suggests that the estate does not meet the criteria to be an excepted estate.
Transfer of IHT banking
...Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
