Settlement Opportunity

[Boobetty]

This IHT is paid by the trust not you

HMRC think otherwise. Check with them and report back ASAP.

[Iliketax]

HMRC think otherwise. Check with them and report back ASAP.

I don't need to as I know I am right.

The responsibility to pay IHT in relation to the tenth anniversary, when property leaves the trust or there is otherwise a diminution in the value of the discretionary trust's assets is that of the trustee. You might be confusing this with the IHT that can, in some cases, be due when the money goes in to the trust.

[slatt]

I don't need to as I know I am right.

The responsibility to pay IHT in relation to the tenth anniversary, when property leaves the trust or there is otherwise a diminution in the value of the discretionary trust's assets is that of the trustee. You might be confusing this with the IHT that can, in some cases, be due when the money goes in to the trust.

That doesn't seem to match what is on HMRC's website, unless I'm reading it wrong.....

"As a trustee, you’ll have to pay a charge on every tenth anniversary of the date your trust was set up if your trust contains relevant property."


https://www.gov.uk/trusts-and-inheri...versary-charge

[slatt]

Oh wait, I am reading it wrong, it says trustee not beneficiary!

[Not Losing Any Sleep]

I'm sure that many of you have received the latest missive from HMRC EBT settlement opportunity - with a following wind, HMRC replies to correspondence in 4 or 5 weeks, often longer. I wonder how well they will do agreeing amounts by 31/07 with everying who responds?

[slatt]

I'm going to guess that they don't have a snowball's chance in hell

I'm still waiting for a response to my request for what they think I owe, dated the 9th of Oct, 2014....

[Safe]

loan repayment

What will happen if you settle with HMRC and trustee come and ask for the loans? Does settlement agreement mention anything that the loans are income and trustee shouldn't ask to re-pay them?

Oh wait, I am reading it wrong, it says trustee not beneficiary!

[NeedTheSunshine]

I'm sure that many of you have received the latest missive from HMRC EBT settlement opportunity - with a following wind, HMRC replies to correspondence in 4 or 5 weeks, often longer. I wonder how well they will do agreeing amounts by 31/07 with everying who responds?

I haven't received anything recently. Have I missed something? What was in it?

[Not Losing Any Sleep]

I haven't received anything recently. Have I missed something? What was in it?

Looks like a standard letter, you must register to settle and must accept our terms by end July or we are def going to screw you and give you a much worse deal and take you to a tribunal where we win 80 percent of cases.

[StrengthInNumbers]

If trustees come back and ask the you have to pay the loan back or your taken to the cleaners.