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Inheritance Tax

Anyone had experience of revising figures after HMRC approval?

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Inheritance Tax was agreed around 5 months ago but it has now come to light that what were thought to be personal assets are actually business assets and solcitor is not prepared to sign off on the transfer of these assets now knowing they have been (innocently) treated incorrectly.

Anyone had experience of anything similar? and how is the best way to approach HMRC with this. The company liquidation has been suspended pending this alteration.

Thanks for any replies

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By ireallyshouldknowthisbut
25th Jul 2019 14:06

You need to file an IHT corrective, form C4.

Many of the big estates we deal with end up with one as more things come to light during administration, its pretty routine.

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By pauljohnston
29th Jul 2019 10:20

This will work so long as Form 30 has not been submitted

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Replying to pauljohnston:
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By jaffe123
29th Jul 2019 10:41

Thanks for the replies
From 30 not filed yet as they elected to pay in instalments.

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