The concession, which will have immediate effect, will apply to all cases yetto be settled.
The Inland Revenue said the move was because decorations can, owing to their nature and history, command significant values and therfore increase the value of an estate or transfer for IHT purposes.
It is hoped the move will prevent beneficiaries from facing the dilemma of wishing to keep the decorations for personal or sentimental reasons, but not being able to afford to pay the tax on them.Inland Revenue press release
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy