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HMRC internal manual

Inheritance Tax Manual

HM Revenue & Customs
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Examples of statements and certificates of full disclosure: statement to be issued with a corrective account

You should use the following wording when issuing a corrective account following the discovery of an omission or undervaluation.

‘Where it has been established that as a Personal Representative of a deceased person you have

  • delivered an incorrect account, or
  • furnished incorrect information, or
  • produced an incorrect document

for the purposes of inheritance tax to the Board of HMRC, an Officer of the Board may ask you to complete a corrective account showing the assets previously omitted or to be adjusted and correct values.

You should consider the entries made on the corrective account very carefully before you sign it and ensure that they show all the corrections required. If at some later date itis found that the corrective account was materially incorrect, the circumstances will be investigated thoroughly. If the corrective account proves to have been false, the Board will take a serious view of the false account and any loss of tax which may have arisen as a result.

False corrective accounts can result in prosecution.

Issued for and on behalf of

The Board of HMRC’