On death where the main asset is the family home are selling expenses allowable as an expense BEFORE the calculation of Tax
Also are ther legal expenses ...the solicitor is acting as an exectutor...allowable
Allowable expenses on sale of assets
2 posts • Page 1 of 1
by spiritofspain on Mon Apr 25, 2005 12:34 pm
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by King_Maker on Tue Apr 26, 2005 12:02 am
I assume you are referring to Inheritance Tax (IHT)?
If so, professional fees and selling expenses are not allowable for IHT.
Have you read the Inland Revenue's booklets IHT14 "Inheritance Tax - the Personal Representatives' Responsibilities" and IHT215 the guide to filling in form IHT200? Both are downloadable from their website.
If so, professional fees and selling expenses are not allowable for IHT.
Have you read the Inland Revenue's booklets IHT14 "Inheritance Tax - the Personal Representatives' Responsibilities" and IHT215 the guide to filling in form IHT200? Both are downloadable from their website.
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2 posts • Page 1 of 1
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