Advising the executors of a deceased client can be a sensitive and challenging time, especially if they are also the beneficiaries of the estate. But where the client died before the current market downturn, it can present some new challenges. IHT has to be paid on the estate value at the date of death, even though some of the assets in the estate may have subsequently taken a significant hit on the back of stock market falls since the COVID-19 outbreak began.

However, relief may be available which allows the executors to reclaim some of the IHT they have already paid. This is known as 'IHT share loss relief' and allows the IHT bill to be recalculated if the executors sell quoted shares/collective investments at a loss during the administration period.

Read our insight to understand:

  • how share loss relief can increase the legacies for estate beneficiaries
  • how to maximise the amount of relief
  • when the relief should not be claimed

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