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Inheritance Tax

The Capital Taxes Office has introduced four new forms.


This is to be used on an application for a grant of representation from 26 April 1999. It replaces the probate summary in the existing form IHT 200.


This is &#34How to fill in Form IHT 200&#34.


This is &#34How to work out your tax&#34.


This has been updated and is more user-friendly for the applicant whether professional or lay.

Form IHT 200 asks a number of wide-ranging questions on compliance enabling the CTO to pick out areas where further investigation is required. It is also designed to reduce the time spent by the CTO by raising questions at the initial stage instead of six to nine months after the return has been submitted and the grant issued. Although the return can now be dealt with more quickly, the personal representatives need to supply more information which could delay the application.

It is necessary to determine whether the death benefits under a personal pension scheme are subject to a discretionary trust for inheritance tax or form part of a deceased&#39s estate. The new form deals with these issues at an early stage.

Although the estimates of income tax and capital gains tax liabilities can be used initially, the need for agreed figures from the Inspector of Taxes can lead to delays as at present.

Finally, the CTO has undertaken to produce a practitioner&#39s guide with further information and technical detail.


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