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| *Ostroff, Fair and Company>>>United Kingdom Taxes |
Are there any ways that I can claim back some IHT tax which I have had to pay on my late Fathers estate? |
I have had to pay out quite a few thousand pounds on his estate and think it is so unfair paying this money back to the Government Sorry - no way to claim it back! Source(s): I'm a tax adviser! I wouldn't think there's any way of claiming any back, as Inheritence Tax is as Inheritance Tax does! Only a tax expert could answer that, if he knew the details. Maybe you should consider a consultation......... Probably not, the only way to minimise IHT is with proper estate planning or potentially some adjustments to the will shortly after death. If you have already paid the tax it sounds like its a done deal already. I completely agree about the disgrace of a tax that taxes already taxed and usually hard earned income. Originally this was a wealth tax, but with the average house price getting closer and closer the IHT nil rate band each year. Eventually IHT will effect a great deal of the population. You would be entitled to claim back any genuinely overpaid tax, such as if a house sale realised less than the probate value, or new creditors of the deceased were paid after the tax had been paid. Other than this you get the inheritance it pays the tax, them's the rules! Unfortunately not, the tax is a fixed tax on the amount in your father's estate, you cannot claim back anything. Kiss the money goodbye my sweet and enjoy your life. Good Luck |
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