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IHT: It’s all in the timing!

By Kevin Read, October 2020

Kevin Read explains how personal representatives can save inheritance tax where quoted investments or land have lost value. 

Where people act as personal representatives (PRs) for those who died in the months leading up to the coronavirus pandemic, there is a good chance that they will be realising assets for less than their value at death.   

Where the asset is quoted investments or land and buildings, the value of the death estate for inheritance tax (IHT) purposes may be adjusted for losses arising on post-death disposals. However, the detailed rules are quite tricky, particularly where losses are restricted due to the PRs reinvesting in the same type of asset while administering the estate. 

Quoted investments 

All sales within the twelve months after death are considered, whether generating a profit or loss, which is calculated by a simple

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