CLSO Says No IHT Due? CLSO Says No IHT Due?
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  1. #1

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    Default CLSO Says No IHT Due?

    Just received my CLSO offer.

    It specifically mentions:

    No IHT is currently due based on:

    The trust from which you received the loans satisfied Section 86 IHT Act

    etc

    etc

    etc

    Does this mean If I settle no IHT will be applicable to me.

    Has anyone else had the same letter?

    Thanks

    B

  2. #2

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    Most probably IHT does not apply to a lot of us. It's not like we r getting a deal if IHT or closed years r not included.

  3. #3

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    Quote Originally Posted by bstar1 View Post
    Just received my CLSO offer.

    It specifically mentions:

    No IHT is currently due based on:

    The trust from which you received the loans satisfied Section 86 IHT Act

    etc

    etc

    etc

    Does this mean If I settle no IHT will be applicable to me.

    Has anyone else had the same letter?

    Thanks

    B
    This is strange. I have received my CLSO and says IHT is due.

    It reads as follows...

    The trust from which you received the loans satisfied Section 86 IHT Act 1984.

    Although the statement on my CLSO is exactly same as yours, IHT is still due in my case.
    Don't understand!

  4. #4

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    Default

    Quote Originally Posted by SimonJones View Post
    This is strange. I have received my CLSO and says IHT is due.

    It reads as follows...

    The trust from which you received the loans satisfied Section 86 IHT Act 1984.

    Although the statement on my CLSO is exactly same as yours, IHT is still due in my case.
    Don't understand!
    It depends on the type of trust.

    It may be that schemes with the same name evolved over the period of operation to use different forms of trust.
    Best Forum Adviser & Forum Personality of the Year 2018.

    (No, me neither).

  5. #5

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    Default

    Quote Originally Posted by bstar1 View Post
    Just received my CLSO offer.

    It specifically mentions:

    No IHT is currently due based on:

    The trust from which you received the loans satisfied Section 86 IHT Act

    Does this mean If I settle no IHT will be applicable to me.

    Has anyone else had the same letter?

    Thanks

    B
    Currently being the operative word.

    IHT will be applicable if you subsequently write off the loan.

  6. #6

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    Default IHT in CLSO

    Quote Originally Posted by SimonJones View Post
    This is strange. I have received my CLSO and says IHT is due.

    It reads as follows...

    The trust from which you received the loans satisfied Section 86 IHT Act 1984.

    Although the statement on my CLSO is exactly same as yours, IHT is still due in my case.
    Don't understand!
    Are any of your loans for years that may fall into the 10 year rule ?

  7. #7

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    Default No IHT for AML trust

    Which provider were you with.

    I had CSLO with no IHT for period with AML.

  8. #8

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    Default IHT in CLSO

    Quote Originally Posted by jbeer View Post
    Are any of your loans for years that may fall into the 10 year rule ?
    The CLSO dosen't mention anything about the 10 year rule.

    I used to be with Edge. Has any Edge user got an CLSO with or without IHT?

    What I can't understand is, on the CLSO it mentions: The trust from which you received the loans satisfied Section 86 IHT Act 1984. Under this section IHT is due, but according to the some of the posts, under the very same section the IHT is not due. Confusing!

  9. #9

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    I was with Edge (09/10) and was told no IHT "currently" due. Or due "at this time". Or something like that - can't recall exact words and don't have the letter to hand.

  10. #10

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    As far as I know IHT is not due for anybody at he moment and HMRC is keeping the door open to come back for it.

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