Death forms under scrutiny in IHT clampdown
HMRC launches latest sting
HM Revenue & Customs officials will
start carrying out random checks on tax forms submitted when a person dies to
see if there has been any attempt to avoid inheritance tax.
HMRC staff will play close attention to gifts affected by the seven-year
Under tax rules, gifts made more than seven years before a person dies are
exempt as long as the person making the gift does not continue to benefit from
what has been given away.
Estates worth more than £300,000 are liable for
inheritance tax (IHT) at 40%.
The latest campaign was revealed in a HMRC online newsletter.