Commentary

I11.217 Incorrect accounts

IHT, trusts and estates

I11.217 Incorrect accounts

I11.217 Incorrect accounts

A person who has delivered an account may subsequently discover that the account contains a material defect which may be an error of omission or commission. If this is the case he must, within six months of his discovery, deliver a further account containing the information to correct the error1. Failure to do so will result in a penalty2. Where personal representatives have only been able to make a provisional estimate of the value of the deceased's property they must deliver a further account as soon as they have ascertained the proper value3.

HMRC have stated4 that in

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