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Chapter IHTM06034

Document Cited in Related
Vincent
Published date20 March 2016
Record NumberIHTM06034
CourtHM Revenue & Customs

If an estate no longer qualifies as an excepted estate, the personal representatives must deliver an account within 6 months of establishing that the estate ceased to qualify. There are three circumstances in which an estate may no longer qualify

  • the value of the estate changes so that the chargeable estate is now more than the nil rate band, or
  • an Instrument of Variation (IHTM35011) is executed so that the way the estate devolves changes and the estate then fails to qualify. For example, relievable property that previously passed to the spouse or surviving civil partner is redirected to the children and the value then exceeds the nil rate band. Although the taxpayer may claim that a relief is due, the estate no longer qualifies as an excepted estate, or
  • where the estate is an exempt excepted estate (IHTM06013) and the death is on or after 1 April 2014, a liability which was allowed as a deduction is not discharged from the estate with the result that the chargeable estate now...

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