Any fee earner working in estate administration can attest that the inheritance tax process is one that is both complex and time-consuming. With ever-changing regulations in regard to tax and its administration, keeping up with the paperwork and ensuring compliance can be a challenge.
However, with the advent of cloud-based forms software such as Advanced’s Cloud Forms, the inheritance tax process is no longer so burdensome, and is more streamlined than ever before.
Within Cloud Forms, users can use the IHT400 workflow. This is a specialised area dedicated to ensuring the most accurate and streamlined form submissions of the IHT400 form, breaking down the form into an easier process to maximise efficiency and accuracy. That means quicker submissions, fewer issues, and happier clients.
What’s more, by using Cloud Forms’ IHT400 workflow feature software, law firms can ensure compliance with regulations and guidelines set by governing bodies. For example, in the UK, HM Revenue and Customs (HMRC) requires that inheritance tax forms be submitted electronically. Cloud forms software enables law firms to comply with these regulations, avoiding penalties and other consequences.
What is meant by a cloud-based forms software?
It is a cloud-based platform that enables law firms to create, manage and execute legal documents online. By using a cloud-based system, law firms can streamline how they execute forms – collaborating not only within internal teams, but with clients and third parties as well in a secure environment.
It can significantly reduce costs associated with traditional paper-based methods. By eliminating the need for printing, storage, and shipping costs, law firms can save money and allocate their resources to other areas of their business.
Cloud Forms provides a secure platform for storing legal documents. By using encryption and other security measures available in a cloud-based system, rather than using on-premise solutions, law firms can ensure that their documents are safe and protected from unauthorised access.
We’re your legal software partner
Click here to find out more about how our Cloud Forms IHT400 Workflow feature helps law firms work more effectively and efficiently.
More than 5,000 law firms and barristers chambers across the UK trust us to keep them ahead of the curve. With legal procedures becoming ever-more digitised, our solutions are designed so you can not only meet the challenge but go beyond it and utilise software powered possibility to maximise efficiency, ensure security and compliance and make the day-to-day easier.
For more information about our Advanced Cloud Forms IHT400 Workflow product, click here.
We are excited to announce we will be an official sponsor and exhibitor of the British Legal Technology Forum on the 10th May 2023, and look forward to meeting thought-leaders within the legal industry. This event is an excellent opportunity to connect with like-minded professionals and gain insights into the latest industry trends.
The event has a great lineup of speakers who will be sharing their expertise and knowledge on various topics related to the industry. There will also be networking opportunities and refreshments provided.
We look forward to seeing you at the BLTF event and sharing a valuable experience with you.