Excepted estate

From Lawiki - The law notes repository
Jump to navigation Jump to search
Lawiki for and by law students - find us on Facebook if you want to help us edit this Law Wiki.

Not professional advice - LAWIKI cannot guarantee the validity of any information

An estate that is exempt from the requirement to supply accounts to the Inland Revenue. At the time of writing, the conditions which must be met for an estate to be excepted are:

  • the total value is less than 210,000, of which no more than 50,000 is held outside the UK,
  • estate is passed by Will, intestacy, nomination or survivorship, and
  • the deceased must have been domiciled in the UK, and
  • the deceased must have made no gifts that are subject to capital transfer tax or inheritance tax, or granted any Life interest in property.
    UK LAW