Property News · October 5, 2010

Wine investors may face inheritance tax timebomb


UHY Hacker Young says many investors have been wrongly advised about how wine is valued during IHT assessmentWine proved as resilient as gold during the recession – investors consider it inflation-resistant and there is pleasure in drinking it if all else fails – but many investors in wine could unwittingly be building up huge tax bills for their relatives and executors, a national accountancy firm has warned.UHY Hacker Young says many wine dealers and investment companies have misled prospective investors by claiming – wrongly – that the value of wine investments during inheritance tax (IHT) assessment is based on the price the wine was bought at, rather than its current market worth. Continue reading…

Source : theguardian.com
Read more…Wine investors may face inheritance tax timebomb

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