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Accelerated payments regime could apply to inheritance tax

A recent document issued by HMRC could see people seeking to avoid inheritance tax being forced to pay tax early under new plans to fight tax avoidance.  Apparently there is concern that people are setting up trusts to avoid inheritance tax liabilities.  Typically, assets are placed in trusts while the donors are alive so that inheritance tax does not apply subsequently.A recent document issued by HMRC could see people seeking to avoid inheritance tax being forced to pay tax early under new plans to fight tax avoidance.  Apparently there is concern that people are setting up trusts to avoid inheritance tax liabilities.  Typically, assets are placed in trusts while the donors are alive so that inheritance tax does not apply subsequently.

 

 

Date: 21st August, 2014
Author: Cathy Corns

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