Commentary

I11.412 Determination based on previous view of law

IHT, trusts and estates

I11.412 Determination based on previous view of law

I11.412 Determination based on previous view of law

To protect the taxpayer and the Board against the effects of subsequent court decisions or changes of practice when they have settled the taxpayer's liability to IHT, it is provided that, where IHT has been paid and accepted on 'a view of the law then generally received or adopted in practice', any question of underpayment or overpayment is to be determined on the same view, even if it appears from 'a subsequent legal decision or otherwise' that the view was or may have been wrong1. The phrase 'or otherwise' is sufficient to

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