Delays at the Probate Office and at HMRC mean that executors are paying record amounts of interest on outstanding Inheritance Tax (IHT). The  regulation governing the interest-free period  after a person's death needs to be amended from the current 6 months to a more realistic 12 months. 

A Grant of Probate, necessary for dealing with the deceased's assets, once took a few weeks to get but in recent years is now taking many months. Furthermore, higher interest rates, fewer Probate Offices and a nil rate band for IHT that has remained basically static at £325k since 2009, means that executors are paying record levels of interest for longer periods to HMRC. Executors, and therefore beneficiaries, are being penalised through no fault of their own. 

The financial burden imposed by the current regulation is unjustifiable given that it is most often caused by administrative delays beyond our control. By extending the interest-free period, we can ensure a greater fairness while still maintaining accountability for tax obligations.

Please sign this petition today so we can call upon our legislators to amend this outdated regulation practice and bring about much-needed change.