The deceased had a life interest in a trust fund and as a result of his death, CGT has had to be paid.
The client is arguing that the figure that should have been reported to HMRC on the IHT forms is the value less the CGT. Death triggered the CGT payment but if the full value is included with the IHT form, the they are paying CGT and IHT on the same amount.
However, is it arguable that at the date of death, the deceased had the full value in their estate?
Katie Kenealy
RDP Law