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Tax Day 2021: What will changes to Inheritance Tax and tax admin mean for you?

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“In addition, the current temporary provision for those dealing with a trust or estate to provide an Inheritance Tax return without requiring physical signatures from all those involved will be made permanent.

“Reporting regulations will also be updated to clarify the requirement for estates to submit an Inheritance Tax account where the deceased was never domiciled in the UK but owned indirect interests in UK residential property.”

Jesse Norman, the Financial Secretary to the Treasury has previously said: “We want to cut red tape and make the tax system as simple as possible for people to use, especially during difficult times.

“The change is part of our wider drive to remove unnecessary paperwork and obstacles so that taxpayers can manage their affairs with less effort.”



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