The complex world of Inheritance Tax


The Chancellor is right to ask the Office of Tax Simplification to review Inheritance Tax. Those that deal with the Inheritance Tax system on a daily basis (myself included) will tell you how mind bogglingly complicated some of the rules can be. 

However, attempts to simplify the regime have failed in the past, and it was less than a year ago that the government introduced the new Residence Nil Rate Band - a piece of Inheritance Tax legislation which is remarkable in its complexity.

We shall see what comes of this review but I don't hold out hope of a simplified system any time soon...

Quote mark icon

The chancellor has written to the Office of Tax Simplification asking for a review of inheritance tax (IHT), after describing the levy and the regime in which it operates as “particularly complex”.
featured image