I've asked HMRC for clarification on this and still not had a proper answer. This was their reply.
Inheritance Tax
Many disguised remuneration schemes use a trust as the third party, and therefore Inheritance Tax (IHT) charges can arise if the loan is released (or written off). Any IHT liability can be dependent on the nature of the employer’s scheme and the amounts put through the trust. HMRC holds insufficient information regarding the two schemes used in your case, therefore we cannot rule out future IHT liabilities if our understanding of these schemes changes.
I've not ever had anything in terms of inheritance passed down, but I'm concerned by that wording; that they can and will come knocking whenever they feel like down the line.
Am I being ignorant here or is that what they're saying?
The tax / 'loan' owed back is well under £125k so does this mean it is unlikely that I'll have to pay IHT? The wording of it makes me feel like they're going to try and use me as a blood bank like on Mad Max Road to Fury.
What have other people had said about this?
Inheritance Tax
Many disguised remuneration schemes use a trust as the third party, and therefore Inheritance Tax (IHT) charges can arise if the loan is released (or written off). Any IHT liability can be dependent on the nature of the employer’s scheme and the amounts put through the trust. HMRC holds insufficient information regarding the two schemes used in your case, therefore we cannot rule out future IHT liabilities if our understanding of these schemes changes.
I've not ever had anything in terms of inheritance passed down, but I'm concerned by that wording; that they can and will come knocking whenever they feel like down the line.
Am I being ignorant here or is that what they're saying?
The tax / 'loan' owed back is well under £125k so does this mean it is unlikely that I'll have to pay IHT? The wording of it makes me feel like they're going to try and use me as a blood bank like on Mad Max Road to Fury.
What have other people had said about this?
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