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How do I go about unravelling the scheme or electing to have it treated as a GWR?

April 26, 2017Electing gwr Scheme treated unravelling

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How do I go about unravelling the scheme or electing to have it treated as a GWR?

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A. How you “unravel” a scheme may have unforeseen effects and you are advised to contact the advisers who helped you set up the scheme originally. If they are not available you may want to consider taking advice from another legal or financial adviser. If you want to elect to treat the property as a gift with reservation for inheritance tax, complete form IHT 500 (PDF 567K) . Guidance about how to fill out the form is given in IHT 501 (PDF 128K).