P543 Teletext 543 Jul18 23:10:22 & BENEFITS —————————————————————————————— INHERITANCE TAX FORMS 'TOO COMPLEX' Inheritance tax forms are adding to the burden of grieving relatives, according to a parliamentary group. The Public Accounts Committee says inheritance tax forms are "complicated" and should be made easier to complete. The group wants the tax administration process to be changed, such as simpler forms and the launch of a website that offers advice on financial matters for those who have lost a relative. ——————————————————————————————————1/6—— by Dan Coatsworth HOLIDAY ON THE SOUTH COAST FR £45pppn SEE p247 NOW!! Tax facts Credit&deb Holiday £ Loans AdP543 Teletext 543 Jul18 23:13:38 & BENEFITS —————————————————————————————— INHERITANCE TAX FORMS 'TOO COMPLEX' Around a third of inheritance tax forms are filled out by relatives rather than a solicitor or accountant. But MPs say the forms are not straightforward. "I am concerned that people who are grieving for a loved one are still being confronted with paperwork that is overly complicated," says Edward Leigh, Public Accounts Committee chairman. "More can be done to make it easier to carry out the necessary tax business." ——————————————————————————————————2/6—— Are you a Premium Bond winner? 539 NORTON LOANS SEE p615 0800 929 100 Tax facts Credit&deb Holiday £ Loans AdP543 Teletext 543 Jul18 23:13:41 & BENEFITS —————————————————————————————— INHERITANCE TAX FORMS 'TOO COMPLEX' Inheritance tax is paid on assets over £275,000, with excess charged at 40%. Gifts from someone who dies within seven years of its receipt can also be subject to IHT. More details are on the Government website www.hmrc.gov.uk ——————————————————————————————————3/6—— "Best buy" home loan rates 536 CLEAR EXPENSIVE CREDIT BILLS NOW! LOANS.CO.UK CALL 0800 197 2875 NOW! Loans subject to status and secured on residential property by second charge. Calls recorded for training SEE p628 Tax facts Credit&deb Holiday £ Loans AdP543 Teletext 543 Jul18 23:11:24 & BENEFITS —————————————————————————————— INHERITANCE TAX FORMS 'TOO COMPLEX' The Public Accounts Committee, a Parliament group, wants inheritance tax forms to be changed. It proposes: Getting people from outside the tax industry to help simplify the forms. Creating a website aimed at people whowj relative recently died. It says the site could include advice on inheritance tax issues and help over how to deal with authorities after a death in the family. ——————————————————————————————————4/6—— Latest rates on National Savings 540 LATEST LOANS ON OFFER loans.co.uk See p628 (ax facts Credit&deb Holiday £ Loans AdP543 Teletext 543 Jul18 23:17:10 & BENEFITS —————————————————————————————— INHERITANCE TAX FORMS 'TOO COMPLEX' Dealing with bereavement should not be made harder by complicated inheritance tax forms, but this is not an excuse to avoid declaring assets, say senior MPs. The Public Accounts Committee wants tougher treatment for those who fail to declare inherited assets. It says the taxman is too lenient in its penalties. "The Revenue must come down firmly on those who cheat by giving false details on inheritance tax forms," it says. ——————————————————————————————————5/6—— "Best buy" personal loans 546 NORTON LOANS SEE p615 0800 929 100 Tax facts Credit&deb Holiday £ Loans AdP543 Teletext 543 Jul18 23:27:26 Advert 6/6 YOUR PERFECT CAR 700 From MPVs to sports cars, our new section can help you find the best deal around. NEWS/FEATURES 701/702 Breaking stories for motorists, and a more detailed look at current issues. Tax facts Credit&deb Holiday £ Loans Ad