TaxPersonal TaxRevamped inheritance tax forms launched by Revenue

Revamped inheritance tax forms launched by Revenue

A new inheritance tax return together with guidance notes were launched today by the Inland Revenue.

A spokesman said the form IHT200, has been extensively trialled with both practitioners and individual taxpayers.

‘It is clearer and easier to understand than the seven forms it replaces and means quicker handling, fewer follow-up enquiries and so lower costs,’ she added.

The form is for use by applicants in England, Wales and Northern Ireland for estates which must be reported to the Capital Taxes Offices. The consultation process is continuing in Scotland where the arrangements differ.

The form, also known as the Inland Revenue Account for estates, comprises a basic eight page form plus supplementary pages which need be completed only if an aspect is relevant to a particular estate.

A step by step worksheet (IHT(WS)) has been developed alongside IHT200 to help applicants work out the inheritance tax (if any) that must be paid on delivery of the account.

Also published today are the comprehensive associated guidance notes:

booklet IHT210 – `How to fill in form IHT200′ individual guidance notes for each of the supplementary pages;

booklet IHT213 – `How to fill in form IHT(WS)’

booklet IHT215 – `Practitioners Guide’ which gathers all the

guidance in a single volume.

The Capital Taxes Office (CTO) at Nottingham is today sending an initial supply of the new account forms (and associated guidance) to practitioners who have delivered an account to the Nottingham or Belfast offices during the latter few months of last year.

Anyone who has not received their initial supply within the next two weeks can obtain forms from CTO at the Nottingham address given below, or on the internet at www.inlandrevenue.gov.uk/cto

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