Executors Liable for IHT!

Executors Liable for IHT!

Executors take care – you might be liable for IHT even if you are not a beneficiary. One case offers a cautionary tale. Glyne Harris was left owing HMRC £340,000 in death duties after discharging the assets of an estate on what he claims was the understanding that the beneficiary would pay the IHT owed. But the beneficiary left the country for Barbados without paying up. Mr Harris launched an appeal but tribunal judge Nicholas Aleksander rejected it. Nigel Jones of JMD Law, commented: "It doesn't necessarily depend on the size of the estate, but it can pay to instruct a lawyer where, as in the case with Mr Harris, inheritance tax is payable."

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