Tax Disputes & Investigations

Inheritance Tax

HM Revenue & Customs' (HMRC) Inheritance Tax Team (IHTT) is part of its Charity Assets and Residence Department.

In short, if someone does something (undertakes a transaction) that reduces the value of their estate then there may be a charge to IHT. The main times when the specialist IHTT will review and possibly investigate someone's affairs are: -

• on death;
• any transfers into and out of trusts;
• successive ten-year anniversaries of trusts;
• transfers into and out of companies; and
• the rearrangement of capital within a close company (e.g. the alteration of share rights).

In particular, IHTT closely examines certain entries on an IHT Return that weren't previously (or wouldn't otherwise be) included on a tax return, such as: -

• substantial cash hordes/sums;
• offshore assets; and/or
• let property.

The IHT investigations in which we have been involved have included: -

• previously undeclared assets, including offshore assets and property;
• where the deceased was the joint owner of a bank account/investment that produced income of more than £20,000 a year;
• where the deceased made gifts of cash or assets exceeding £50,000 in the seven years prior to death;
• where the deceased made gifts of assets exceeding £50,000 and continued to benefit from the assets gifted;
• where the deceased made substantial capital disposals (other than gifts) where the net proceeds exceeded £250,000;
• where the deceased created or transferred cash or other assets into a trust (or an offshore structure);
• where the deceased received income or capital from a trust; and
• where there was an unexplained decrease in the capital value of the deceased's estate (over £50,000) in the seven years before death.

How can OneE TDI help?

At the core of OneE TDI is a highly experienced team specialising in all areas of tax disputes and investigations work. We offer confidential, non-judgemental advice to best defend our clients and have a proven track record in successfully managing all contentious tax matters. We provide an outstanding, cost effective service, which results in tangible benefits and savings for our clients. Our advice saves our clients time and money and helps reduce their potential exposure to tax, interest and penalties.

We take control of and manage all parts of a CAR investigation so that our clients can get on with their life and their business. What price peace of mind?

Please see the Testimonials kindly provided by our clients (or their accountants or lawyers), which confirm our levels of client service.

How can I contact OneE TDI?

If you would like a free, no obligation discussion with us please contact either Gary Rowson or Mark Taylor on 0800 652 6156 or complete and submit the online form below:

Whilst we endeavour to provide informative and accurate information, the content on this site is for general information purposes only and should not be taken to constitute tax or legal advice which must always be tailored to individual circumstances. Please contact us if you would like to discuss matters.

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