Inheritance tax returns must be filed within eight months of death. From eight months after the death, a levy interest starts running. If you want to avoid levy interest, it is best to file the tax return within five months of death as the tax authorities usually impose the assessment within three months.
It is possible to apply for a postponement for filing tax returns. Even if postponement is granted, tax interest runs from eight months after death.
The obligation to file a tax return rests on the executor and on each of the persons owing something. In most cases, you will automatically receive an inheritance tax return form. If you do not receive this form and inheritance tax is owed, you have to request it yourself. Even if you do not actually get your hands on anything because, for example, you get a claim against the surviving spouse or partner, you may still have to pay inheritance tax.
In the inheritance tax return, you specify what the testator's assets and debts were at the time of death. The costs of the funeral may be deducted from this.
The valuation of the assets is also done per date of death. An exception to this is a house. For a house, the law stipulates that the WOZ value must be used. There is the possibility to choose the WOZ value of the calendar year of death or of the following calendar year.
Based on the law, a will of a predeceased spouse or partner, the will of the deceased and the nature and extent of the estate, there are very many choices to be made when filing a tax return. In addition, a number of choices are important for the amount of income tax. Our expertise in these taxes allows us to ensure that you pay as little inheritance tax as possible.
For more information about inheritance tax and having us take care of the tax return, please contact us. We will be happy to advise you.
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