This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Search found 2693 matches

Go to advanced search

by Incredulum
Sun Mar 29, 2020 5:02 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT 35
Replies: 1
Views: 460

IHT 35

Another question, please, if you would be so kind. An estate has IHT payable. IHT35 claim for relief on loss on sale of shares brings the IHT down to nil (the last month has been somewhat 'helpful'). Do the executors have to pay the tax in order to reclaim it? This seems perverse, but on the front o...
by Incredulum
Sun Mar 29, 2020 2:51 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: How to submit IHT400
Replies: 4
Views: 1167

Re: How to submit IHT400

Thank you.
by Incredulum
Sun Mar 29, 2020 8:35 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: How to submit IHT400
Replies: 4
Views: 1167

Re: How to submit IHT400

And here (admittedly in a guide written by Which?, but published by H M Government, we're told to send the IHT forms in with the probate application. https://www.thegazette.co.uk/assets/downloads/the-gazette-summary-probate-checklist.pdf "Once you've valued the estate and worked out whether inherita...
by Incredulum
Sun Mar 29, 2020 8:24 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: How to submit IHT400
Replies: 4
Views: 1167

Re: How to submit IHT400

Here's the probate service adding mud suggesting the IHT 400 must be submitted before applying for probate:

"BEFORE YOU APPLY

You must estimate and report the estate’s value before you apply for probate."

https://www.gov.uk/applying-for-probate/apply-for-probate
by Incredulum
Sun Mar 29, 2020 8:21 am
Forum: Company Taxation
Topic: Covid 19 help for small limited companies
Replies: 8
Views: 1308

Re: Covid 19 help for small limited companies

That advice is now outdated - certain volunteer work can be done as clarified by yesterdays update If your employee does volunteer work or training A furloughed employee can take part in volunteer work or training, as long as it does not provide services to or generate revenue for, or on behalf of ...
by Incredulum
Sun Mar 29, 2020 8:16 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: How to submit IHT400
Replies: 4
Views: 1167

How to submit IHT400

HMRC is not very helpful here in the IHT 400 notes. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/864520/Guide_to_completing_your_Inheritance_Tax_account__IHT400_notes__-_English.pdf "WHERE TO SEND THE FORMS When you’ve applied for a grant, or if you...
by Incredulum
Sun Mar 29, 2020 8:12 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: If you're deducting Business Relief, 3 years' accounts - for a Company?
Replies: 5
Views: 1161

Re: If you're deducting Business Relief, 3 years' accounts - for a Company?

Thank you for that, apologies for not having visited earlier to say thank you, I have been busy...
by Incredulum
Sat Feb 29, 2020 9:01 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: If you're deducting Business Relief, 3 years' accounts - for a Company?
Replies: 5
Views: 1161

Re: If you're deducting Business Relief, 3 years' accounts - for a Company?

And is it three years prior to death, or to submission of the return? Thanks
by Incredulum
Sat Feb 29, 2020 7:56 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: If you're deducting Business Relief, 3 years' accounts - for a Company?
Replies: 5
Views: 1161

If you're deducting Business Relief, 3 years' accounts - for a Company?

Hello

On Page 15 of IHT 400 it says, 'if you're deducting Business Relief, a copy of the partnership agreement (where appropriate) and the last 3 years' accounts.'

When it is BPR in respect of unquoted shares, does this apply?

Thanks
by Incredulum
Tue Mar 26, 2019 6:09 pm
Forum: Company Taxation
Topic: Reducing a large share capital
Replies: 1
Views: 11247

Re: Reducing a large share capital

If Holdco really did reduce its share capital, it would be no help as the entirety of the £1m capital value (basis £1m) could only be paid out as taxable income dividends.

Go to advanced search