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
-
What concessions can help your business?
HMRC has been taking away a number of VAT concessions that have existed for many years. Why has this happened and what concessions could still be useful for your business?
-
MONTHLY FOCUS: PROVIDING FURTHER TAX-FREE BENEFITS TO EMPLOYEES
In this further examination of tax and NI free benefits. Providing benefits that are exempt from income tax is a great way to reward employees in a tax-efficient way. Which benefits qualify for tax-free treatment?
-
HMRC urges agents to review excepted estates
HMRC is reminding tax agents to review inheritance tax (IHT) returns submitted for excepted estates following changes introduced from 1 January 2025. The warning follows concerns that some estates may have been incorrectly treated under the new rules. What should you check?
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.