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Forums › ACCA Forums › ACCA ATX Advanced Taxation Forums › Gambling debts and inheritance tax
I was wondering what people’s thoughts are about the following. For the exams ACCA indicates gambling debts are not a valid deduction for inheritance tax purposes. This is true in Northern Ireland but is no longer true in Scotland, England and Wales. My own view is that in practical terms it may be difficult to establish valid deduction. I have not seen this explicitly expressed.
Please see the following-
https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm28130
