UK:
Specialty Debts And IHT: Was HMRC Right To Make A U-Turn?
04 September 2013
Wedlake Bell
To print this article, all you need is to be registered or login on Mondaq.com.
All seems to have gone quiet on specialty debts since HM Revenue
& Customs' controversial announcement on 23 January 2013
that they had changed their view on the treatment of specialty
debts for inheritance tax ("IHT") purposes, to the
disadvantage of the tax-payer. Fay Copeland, head of Wedlake
Bell's Private Client team, reflects on the change of view and
what this means for clients in her monthly column in Private Client
Adviser magazine.
Please click here to read the full article
This article was first published in Private Client Adviser in
July/August 2013 and is reproduced by kind permission (www.privateclientadviser.co.uk).
For further information on HMRC's view on specialty debts,
please see Emma Loveday's previous update by clicking
here
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Tax from UK
Tax – A Shake-Up Looms
Herbert Smith Freehills
Few developments in the tax world have an impact on a truly global scale, but the so-called 'Pillar Two' rules – essentially a global minimum corporate tax – is one of them.
Tax Relief On Debt For Companies
Lubbock Fine
When financing your business operations through borrowing, one of the main considerations will be whether the interest cost is deductible, and to what extent if it is. In the UK...
UK Tax Round Up
Proskauer Rose LLP
Welcome to March's edition of our UK Tax Round Up. This month has seen a number of interesting cases covering a range of issues, from the deductibility of costs against employment income...
Foreign Capital Loss Election For Non-Doms
Lubbock Fine
The complex rules for capital gains tax relief for non-domiciled individuals (non-doms) aren't new, although significant proposed changes have been announced to the non-dom regime in the March 2024 Budget...