Bereaved families overpaying up to £140k in Inheritance Tax

Bereaved relatives are unnecessarily paying up to £140k in Inheritance Tax ‘IHT’ due to a lack of knowledge of the nil rate main residence band. This is partly because HMRC has not promoted this complex relief, causing families to pay more tax than is required. Since 2018, the main residence nil-rate band provided extra tax relief for homeowners when passing … Read More

Refund claims for overpaid IHT more than double

One of the effects of the Covid-19 pandemic is the fall in value of investments, particularly shares and property. Executors and beneficiaries dealing with the estates of the recently deceased have been particularly affected as IHT is based on the value of the estate at death, not on sale of the assets. Many taxpayers who paid Inheritance Tax (IHT) on … Read More

Probate – what you need to know

Probate – what’s changed? The law has changed in respect of probate. The Lord Chancellor has granted approval for the ICAEW to offer probate services, subject to satisfying various requirements including passing probate exams. Curo Chartered Accountants is one of the first ICAEW – regulated firms in the West Midlands licensed to carry out probate work which we see as a … Read More