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.
Example 1
| 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.
