Probate delays hit claims for share loss relief on inheritance tax—Financial Times

"Pressure is growing on ministers to extend the 12-month claims window for loss relief on share price falls for inheritance tax as lengthy delays in processing probate are making it impossible for people to claim."

Speaking with the Financial Times, Russell-Cooke partner adds her support to calls for an extension of the 12-months claim window for loss relief. The Association of Taxation Technicians (ATT) recently penned a letter to Parliament, requesting changes to be made in the upcoming Budget on 15 March. The ATT argues that the current 12-month window should be extended to at least 18 months. In her experience, paper applications for probate are taking six to eight months to resolve, longer than the stated average.

The full article is available to read online by subscription to the Financial Times.