The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations, SI 2011/214, amend the excepted estates regulations, which set out the circumstances in which a person is not required to deliver an inheritance tax account to HMRC of the property comprised in the estate of a deceased person.
They also prescribe for the first time the circumstances in which the personal representatives of an estate benefiting from unused nil rate band – transferred to a surviving spouse or civil partner – may submit an excepted estate return as opposed to having to complete a full IHT account.
The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations, SI 2011/214, amend the excepted estates regulations, which set out the circumstances in which a person is not required to deliver an inheritance tax account to HMRC of the property comprised in the estate of a deceased person.
They also prescribe for the first time the circumstances in which the personal representatives of an estate benefiting from unused nil rate band – transferred to a surviving spouse or civil partner – may submit an excepted estate return as opposed to having to complete a full IHT account.
