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Dedicated to the taxpayers of Britain, and the employees of Her Majesty's Revenue and Customs (HMRC), who have to endure the monumental shambles that is HMRC.
Thursday, 22 April 2010
Accountants and politicians are calling on HM Revenue & Customs to publicise exemptions from inheritance tax (IHT) properly after a Telegraph reader's four-year struggle to be repaid nearly £53,000.
The tax was wrongly deducted because he was unaware of an important exemption, potentially affecting thousands of families, until he read about it in the Telegraph – but HMRC says the tax rules are clearly set out in its literature and everybody should know about them.
However, independent experts say many professional advisers to bereaved families of servicemen and women are unaware of the IHT exemption because they come across it so rarely.
Tax does have to be taxing.
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