HMRC has released a new online IHT guidance tool to support those unfamiliar with the IHT process and who need guidance on whether they will need to pay IHT and what forms they need to complete. HMRC has highlighted that the tool is not a calculator but should be used as guidance. Where the estimated value of the estate is above the IHT threshold of £325,000, the tool will direct users to further information on other reliefs available that can reduce the IHT liability. It will also direct users to guidance on probate.
HMRC has released a new online IHT guidance tool to support those unfamiliar with the IHT process and who need guidance on whether they will need to pay IHT and what forms they need to complete. HMRC has highlighted that the tool is not a calculator but should be used as guidance. Where the estimated value of the estate is above the IHT threshold of £325,000, the tool will direct users to further information on other reliefs available that can reduce the IHT liability. It will also direct users to guidance on probate.
