The TACS Partnership looks at the responsibility of personal representatives for reporting taxable income and gains to HMRC during a period of administration and the information to be passed to beneficiaries so they can satisfy their self-assessment obligations.
The period of administration of a deceased’s estate starts on the date of death. There is no definitive date on which the period of administration ends. One definition is that it ends when the residue of the estate is determined.
Generally, HMRC will accept the date advised by the personal representatives (PRs), unless HMRC considers that the administration period is being manipulated for tax advantage.
Taxes under the responsibility of PRs
- PRs are responsible for agreeing the deceased’s tax affairs to the date of death (the
