Deed of variation
The terms of a will can be varied by agreement among the beneficiaries so that the residue of an estate passes on different terms than those included in the will. This is known as a deed of variation. These are often used to improve the inheritance tax position of the estate.
The deed
A gift from the estate of a deceased person can be disclaimed or varied, for example, passed on to the next generation, within two years of the deceasd’s death. You can use our Deed of Variation, which must be signed by all the beneficiaries and witnessed, to achieve this.
Related Topics
-
HMRC has withdrawn Form 652. How should you notify VAT errors going forward?
-
Can paying interest to your company save tax?
You recently borrowed a substantial sum of money from your company rather than take extra salary or dividends. Your bookkeeper says it might be more tax efficient if your company charged you interest. This sounds counter-intuitive but is it correct?
-
Reverse charge and end user rules: opportunity?
If you sell construction services to other builders, you need to consider the domestic reverse charge rules. You must apply these where your customer is an end user. How might this create a cash-flow advantage?