ARTICLE · 04 JUNE 2014

Inheritance Tax: Advice To Executors

Smith & Williamson

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The recent crackdown on tax evasion means the tax authorities are almost certain to be taking a closer look at the payment of inheritance tax.

United KingdomTax

Smith & Williamson

Inheritance tax

Advice to executors of an estate

The recent crackdown on tax evasion means the tax authorities are almost certain to be taking a closer look at the payment of inheritance tax. Typically, the estates of around 15,000 people are liable to inheritance tax each year and many of these are dealt with by a family member or friend acting as a lay executor. Executors can be personally liable in the event of mistakes – not to mention the potential for further investigation of their tax affairs – meaning accuracy is essential.

This Briefing Note provides some practical advice for executors of an estate and highlights common pitfalls.

What are my main responsibilities as an executor?

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