Livery stables inheritance tax decision may open way to relief for grouse shooting
In my earlier post I mentioned the ‘just decided’ case of The Estate of Maureen W. Vigne (deceased) v. HMRC (TC06068), HMRC sought to disallow inheritance tax business property relief on a livery business that needed land (approximately 30 acres)…
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Livery stable business is entitled to Inheritance Tax Business Property Relief
A livery stable business run by the late Maureen Vigne qualifies for business property relief from inheritance tax, the England and Wales High Court has ruled in Personal Representative of Vigne v HMRC (2017 UKFTT 632 TC). HM Revenue &…
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INHERITANCE TAX: More detail from HMRC on residence nil-rate band rules
HM Revenue & Customs has amended its guidance on the rules relating to the additional residence nil-rate band for inheritance tax. The new advice relates to the transfer of a spouse’s unused tax-free threshold; how the residential nil rate band…
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Business Property Relief for Furnished Holiday Lets: The Latest
The availability of Inheritance Tax Business Property Relief for owners of Furnished Holiday Lets has been put in doubt by a recent decision of the First Tier Tax Tribunal. The recent Ross case focuses once again on whether a furnished…
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INHERITANCE TAX: Low death rate slows down growth in IHT take
Close to 4 per cent of estates are now subject to inheritance tax, compared with 2.5 per cent in 2009-10, according to HMRC’s detailed breakdowns of inheritance tax receipts for the 2016-17 financial year. The previously reported 2016 headline total…
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