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The Office of Tax Simplification provides recommendations to simplify Inheritance Tax

on 29-Nov-2018 10:27:35 By | Kings Court Trust | Inheritance Tax
We recently reported that an Inheritance Tax review was to be published by the end of this year, and the Office of Tax Simplification (OTS) has now released their first Inheritance Tax review report. This first stage of the report provides an overview of the tax and “sets out recommendations on administrative issues”.
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The risks and responsibilities of an Executor or Administrator: How to avoid a hefty Inheritance Tax bill

A recent article from the Telegraph revealed how a personal representative was left with a staggering Inheritance Tax (IHT) bill of £341,278 when he was administering a £1.2 million estate. Mr Harris misguidedly distributed the assets to the beneficiaries before all of the Inheritance Tax had been paid. He did this with the understanding that one beneficiary (who received the majority of the estate) would pay any Inheritance Tax that was still owed. However, this did not happen as the beneficiary left the country without paying, leaving Mr Harris to foot the bill.
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Sir Bruce Forsyth - playing the Generation Game

on 20-Sep-2017 09:12:16 By | Kings Court Trust | Blog Inheritance Tax
Sir Bruce’s public and private legacies - an example to us all? As Strictly returns with a moving tribute to its most famous host, Sir Bruce Forsyth, we were able to look back at the career of a true gentleman and showbiz legend. Although he had not presented the show for last couple of series, his sad passing at 89, leaves a truly remarkable legacy behind, which will be remembered by the public for years to come.
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Lucian Freud’s estate uses portrait to offset Inheritance Tax bill

on 28-Apr-2016 10:26:29 By | Kings Court Trust | Inheritance Tax
A self-portrait by Lucian Freud is to go on display at the National Portrait Gallery after he left it to the nation in lieu of paying Inheritance Tax. 
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The emotional stress of dealing with a bereavement

A recent article by The Telegraph has detailed the emotional stress that dealing with the death of a loved one can cause, including the anxiety of having to deal with the taxman when it comes to Inheritance Tax (IHT).
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The risk of miscalculating your Inheritance Tax - You could be branded a criminal

Ordinary individuals inheriting assets from overseas could risk criminal charges if they miscalculate the tax owed, reports The Telegraph.
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Labour makes calls for significant changes to Inheritance Tax Laws

on 01-Oct-2015 09:00:00 By | Kings Court Trust | IHT Industry News Inheritance Tax
The new leader of the Labour party, Jeremy Corbyn, has called for significant changes to be made to Inheritance Tax (IHT) laws, arguing that regulations should be graded to make the process fairer.
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Can I reclaim inheritance tax on my father's shares now that the value has fallen?

on 22-Sep-2015 09:00:00 By | Kings Court Trust | IHT Industry News Inheritance Tax
“If I am an executor to my father’s estate, and the shares have fallen 18pc since his death, will I have to pay inheritance on the value at his death, even though I will be selling them for far less?”
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Lower inheritances leading to more disputes and fraud cases

on 03-Sep-2015 09:00:00 By | Kings Court Trust | IHT Industry News Inheritance Tax
The subject of inheritance has been in the news a fair bit recently, with some parents choosing to spend their savings rather than pass them down to their children or grandchildren. With 35% of Britons relying on an inheritance to provide them with a stable financial future, and 20% stating that they require an inheritance to retire comfortably, there is the potential for an increasing number of complications and disputes to arise.
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