There has been a steady rise in disputes concerning IHT and SDLT, report Adam Craggs and Harry Smith (RPC).
In this month’s quarterly review we consider fiscal drag and recent decisions in respect of IHT; a recent decision on SDLT; and a brief update in relation to the provision of documents in court and tribunal proceedings to those who are not party to the litigation.
IHT
The IHT threshold is currently £325 000. It was last increased in 2009 some 15 years ago and currently remains frozen until April 2028. While the transferable nil rate band (which has been in place since October 2007) and the main residence nil-rate band (introduced in April 2017) mean that in practice for some (but by no means all) estates that would otherwise be liable to IHT the threshold is effectively increased this still constitutes considerable fiscal drag. According...
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There has been a steady rise in disputes concerning IHT and SDLT, report Adam Craggs and Harry Smith (RPC).
In this month’s quarterly review we consider fiscal drag and recent decisions in respect of IHT; a recent decision on SDLT; and a brief update in relation to the provision of documents in court and tribunal proceedings to those who are not party to the litigation.
IHT
The IHT threshold is currently £325 000. It was last increased in 2009 some 15 years ago and currently remains frozen until April 2028. While the transferable nil rate band (which has been in place since October 2007) and the main residence nil-rate band (introduced in April 2017) mean that in practice for some (but by no means all) estates that would otherwise be liable to IHT the threshold is effectively increased this still constitutes considerable fiscal drag. According...
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