Tax analysis: In The Executors of KDL Beresford the First-tier Tax Tribunal (FTT) upheld HMRCās determination that business property relief from inheritance tax was not available in respect of shares in a company. The companyās subsidiaryās activity of letting of parts of a commercial property as serviced offices was āwholly or mainly making or holding of investmentsā.
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The basis of calculation of income taxThe calculation of income tax liabilities is usually done by a person's tax adviser (usually using a software package) or by HMRC following submission of a tax return, rather than by a tax lawyer, although lawyers who deal with trust administration will often
Is it best practice to submit an IHT30 clearance certificate when no inheritance tax is payable?If the estate is an excepted estate and Form IHT205 has been filed, there is no need to submit an application for a clearance certificate in Form IHT30 as clearance is provided automatically after 35 days
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