CLSO Says No IHT Due?

[jbeer]

The CLSO dosen't mention anything about the 10 year rule.

I used to be with Edge. Has any Edge user got an CLSO with or without IHT?

What I can't understand is, on the CLSO it mentions: The trust from which you received the loans satisfied Section 86 IHT Act 1984. Under this section IHT is due, but according to the some of the posts, under the very same section the IHT is not due. Confusing!

What was the earliest loan year on your clso ?

[Smokinggunner]

Unable to determine if IHT is due

Mine says they are unable to determine if IHT is due for the year in question. I'm not sure whether the loan was written off or not and have little hope of getting a response from anyone as the providers are long gone and god knows who the trust providers were. Is anyone aware what the maximum liabiity could be please is it 1% per year?

[SimonJones]

Mine says they are unable to determine if IHT is due for the year in question. I'm not sure whether the loan was written off or not and have little hope of getting a response from anyone as the providers are long gone and god knows who the trust providers were. Is anyone aware what the maximum liabiity could be please is it 1% per year?

You are right it is 1% per annum.

Be careful with the CLSO, where they say IHT is not currently due/undermined simply means the CLSO is not final. They have left the door open to come back for IHT later.

[webberg]

You are right it is 1% per annum.

Be careful with the CLSO, where they say IHT is not currently due/undermined simply means the CLSO is not final. They have left the door open to come back for IHT later.

This is true but not the whole story.

the charge is calculated quarterly at 0.25% FOR EVER.

If the loan is repaid/written off/forgiven, then a further charge may kick in,.

[neil99]

This is true but not the whole story.

the charge is calculated quarterly at 0.25% FOR EVER.

If the loan is repaid/written off/forgiven, then a further charge may kick in,.

I think this is something we are looking at in Big Group. I need to ask Graham about this ...