Tax not in dispute is the minimum amount of tax and/or interest
known to be due on the current facts of the case. A calculation for
tax not in dispute should omit any increases to a chargeable estate
that have not been agreed with the taxpayer. It should include any
claimed reductions in the value of the estate that are still the
subject of an enquiry.
|Property returned in IHT400 at||£200,000|
|DV estimates value at||£250,000|
The increase is disputed by the personal representatives and
therefore a calculation should be raised based on the returned
value of £200,000, until the dispute is settled.
The net result will be a provisional calculation for the minimum amount of tax and/or interest payable that can be defended before the First-tier Tribunal.