I3.148 HMRC practice and concessions

IHT, trusts and estates

I3.148 HMRC practice and concessions

I3.148 HMRC practice and concessions

Winnings of syndicate members

HMRC has stated that where football pool, National Lottery or similar winnings are shared out among the members of a syndicate in accordance with an agreement made before the win, there is no liability to IHT. However, HMRC cannot advise on the wording or legal effect of such an agreement. Where following a pools win the terms of an agreement are varied or part of the winnings are distributed to persons who are not members of the syndicate, an IHT liability may be incurred1.

Partnership assurance scheme

A partnership assurance scheme under

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