Property News · September 15, 2012

It's your funeral if you try to cheat HMRC on property values


HMRC has raised £88m by getting tough on the valuation of a deceased’s property when assessing inheritance taxHomeowners will often talk up how much their house is worth, particularly when they are trying to sell. But as soon as someone drops off their perch, their heirs seem to start talking the value down.It is perhaps understandable that next of kin are keen to make sure they don’t hand over too much inheritance tax (IHT) to the government. But be warned: the taxman can, and will, challenge the valuation of a property if they think the stated amount is suspiciously low. Continue reading…

Source : theguardian.com
Read more…It’s your funeral if you try to cheat HMRC on property values

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