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Where Taxpayers and Advisers Meet

Share sale to pay inheritance tax

JohnFW
Posts:1
Joined:Fri Mar 06, 2020 9:28 pm
Share sale to pay inheritance tax

Postby JohnFW » Fri Mar 06, 2020 9:46 pm

We have to sell shares, part of a portfolio, to fund payment of inheritance tax. These shares will be sold at a loss due to the market falling re Coronavirus. Can we claim the loss on iht35.

Lee Young
Posts:2707
Joined:Wed Aug 06, 2008 3:26 pm
Contact:

Re: Share sale to pay inheritance tax

Postby Lee Young » Sat Mar 07, 2020 9:00 am

Yes if the cumulative value of all the shareholdings sold within a year of the death is less than their cumulative value at the date of death.
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner


Partner, Frettens LLP
lyoung@frettens.co.uk
01202 491701


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