HMRC has published its trusts and estates newsletter for March 2024. It contains information on the Spring Budget 2024 announcements including a reminder that, since 1 April 2024, personal representatives of estates no longer need to have sought commercial loans to pay inheritance tax before applying to obtain a ‘grant on credit’ from HMRC.
There are also articles on filing returns for deceased persons and estates in the administration period; reporting and paying tax on gains from life insurance policies after a death; basis period reform; applying for probate and paying inheritance tax following removal of form IHT421; and the inheritance tax helpline.
