Court of Appeal Sets Aside Order for Boy’s Return to Texas
The Court of Appeal has allowed a mother’s appeal against the High Court’s refusal to set aside or stay an order for the return of her son to Texas. ...
Continue readingIn 2011, HM Revenue and Customs (HMRC) challenged more than 10,000 Inheritance Tax (IHT) returns, according to accountants UHY Hacker Young. Each challenge yielded an average increase in IHT payable of £27,000.
In 2010, there were 493,000 deaths recorded in England and Wales. Given that many estates are of a much lower value than the current IHT threshold of £325,000, the implication is that the likelihood of a challenge is significant if HMRC suspect valuations of assets are incorrect or that not all estate assets are included.