Skandia launches online IHT calculator

The guide is designed to help advisers in completing forms IHT100 and IHT100a as HMRC guidance notes for the forms are over 70 pages long. Under the relevant property regime, extended by the Finance Act 2006, the forms need to be completed where chargeable lifetime transfers (CLTs) exceed £10,000 in any tax year or exceed £40,000 in any ten-year period. The forms need to be sent to HMRC within 12 months of the end of the calendar month in which the CLT is made. This has meant a huge extra burden of paperwork for advisers and HMRC for a negligible (if any) tax yield to the Exchequer. Sk...