Families fined up to £3,000 for inheritance tax delays

Oct. 13, 2024 - The Telegraph

The deadline for paying IHT is the end of the sixth month after the person’s death or interest will be charged. In some circumstances, families may need to send one regardless of whether or not they actually need to pay IHT.

Experts blamed slow service from the probate registry and financial institutions for the delays, and said the process was too complicated for grieving relatives. That’s leading to huge delays and unfortunately to fines for families.

”In 2018, several financial institutions signed up to a “death notification service,” which allows families to notify organisations of a person’s death all at the same time. An HMRC spokesman said: “We’re committed to helping customers file and pay the tax they owe, on time.

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