OTS Inheritance Tax review: Simplifying the design of the tax

Released 05 July 2019

The Office of Tax Simplification (OTS) has published its second report on recommendations to simplify inheritance tax and make the system easier to operate.

The review of inheritance tax was requested by the Chancellor of the Exchequer on 19 January 2018. The OTS’s first report, published in November 2018, dealt primarily with the administration of inheritance tax. This second report contains 11 recommendations to deliver a more coherent and understandable structure of the tax. Four main areas are grouped as packages, where some elements have an Exchequer cost and others raise money. They are: the taxation of lifetime gifts; looking at who pays tax where lifetime gifts are taxable; simpler exemptions for lifetime gifts; and a review of business exemptions to ensure they are focused on the policy goals and are consistent across different taxes.

View the report at OTS Inheritance Tax review: Simplifying the design of the tax.

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