Inheritance tax: HMRC may check on estate valuations 20 years after payment – be warned | Personal Finance | Finance


They advise those affected to keep records of how it was all worked out, an example being an estate agent’s valuation.

It is important to do this as HMRC can ask to see records up to 20 years after the IHT is paid.

If a problem is found with how the estate was evaluated, there may be negative repercussions.

It should also be noted that any costs incurred after death, such as solicitor’s fees, cannot be deducted from the estate’s value for IHT purposes.

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