The government, together with HMRC, are working towards the introduction of a new online service. It will support the administration of Inheritance Tax (IHT).
This measure was first announced by the then Chancellor, George Osborne as part of the 2013 Autumn Statement measures. The new service – “IHT Online” = will eventually replace the almost entirely paper-based process for IHT. HMRC receives some 300,000 paper forms a year relating to IHT.
The system will ultimately create a process that removes the need to complete paper versions of forms. The software will enable you to complete the application for probate and submission of IHT forms digitally with progress reports available online. The legislation that will allow for the electronic filing of IHT returns is already in place.
At Key Business Consultants we are experienced with the IHT forms that need to be completed and would be happy to advise on any uncertainties.
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