Malcolm Finney highlights the IHT consequences where quoted shares are sold soon after death.
This article examines whether effecting sales of shares quoted on a recognised Stock Exchange (excluding shares traded on the alternative investment market) soon after death is advisable for inheritance tax (IHT) purposes (IHTA 1984, s 178).
What’s the point in PRs deliberately selling quoted shares at below probate values?
Relief (referred to as ‘qualifying investments relief’) is available where losses arise on sales of quoted shares by personal representatives (PRs) following death (i.e., sales below probate values).
In such cases, the sales values may be substituted for the original probate values, thus producing a lower IHT charge on the deceased’s estate. However, it is necessary for any such sales to be made within twelve months of
