Practice Update – July / August 2009
In this edition of Practice Update:
1. What is ‘Careless’? – A recent tax case considered an incorrect return submitted by a solicitor.
2. Wills and ‘Commorientes’ – How even a large estate can pass free of Inheritance Tax.
3. Equitable liability – The end of a helpful HMRC practice – or is it?
4. Normal expenditure out of income – Some points on a very useful Inheritance Tax exemption.
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