RSS feedsThe dead have been targeted by HMRC as it bids to crack down on inheritance tax.
Link: Treasury may use IHT relief to encourage investment
A new initiative has been launched by its special investigative arm, Special Compliance Office, to cross-check inheritance tax returns with income tax returns filed during the deceased's lifetime, in an effort to check that they are consistent.
SCO officers can now access all inheritance tax returns - where it appears that tax has been underpaid an investigation will take place and the estate could be forced to hand over the difference.
'Correctly completing an inheritance tax return is a difficult but important responsibility,' said PwC tax investigations partner Stephen Camm.
'In discharging their duties, executors must fully understand the tax affairs of the deceased, and make voluntary disclosures to HMRC where it is apparent that previous tax returns were incorrect.'
