|
Nil-rate band transfers - HMRC guidance |
|
|
HMRC have issued new guidance on transfers of the unused IHT nil-band to the surviving spouse or civil partner. Pattinson and Brewer solicitors advise that one important point is that a claim to transfer the unused part of the IHT allowance must normally be made by personal representatives no later than 24 months after the end of the month in which the second death occurred. HMRC do, however, have discretion to extend the period for claim if appropriate.
A further point is that for civil partners, a transfer is only available where the first death occurred after 5 December 2005, as that was the date on which the Civil Partnership Act 2004 came into effect in the UK. Source:
www.pattinsonbrewer.co.uk
|
|
December 2008 |
