1000s of executors and families are being investigated by HMRC for inheritance tax underpayments

Many executors do not realise that they are personally liable for any errors and underpayments when conducting probate and filing returns with HMRC

Between April and November last year, HMRC conducted 2029 separate investigations and recovered over a £172 million. 

1000s more investigations are planned for the coming year with HMRC having the power to demand:

• Bank statements directly from banks and other financial institutions;

• Investment houses;

• IFA s;

• The Land Registry;

• Information from foreign jurisdictions about assets held there.

In addition to the principle sums being recovered, HMRC are also charging interest on the unpaid sums.

We would therefore strongly advise that if you are appointed as an executor in a Will, you should think seriously about whether or not the undertaking of that role is a prudent move and weigh up the consequence of getting it wrong with the cost of appointing a professional company such as Thy Will Be Done to condut probate on your behalf. Remember, professional companies will usually have over £2milion in Professional Indemnity Insurance covering them against any claim that may be made in the evemt of an error occuring.

If you would like to find out more about opur probate service - give us a call FREE on 0800 668 11 64