Subscribe to our newsletter

Call for radical overhaul of inheritance tax and lifetime gifting

The Office of Tax Simplification (OTS) has recommended sweeping reforms of inheritance tax in a bid to reduce complexity as more people are caught by the tax as house prices soar, but has no proposals to deal with the overly complex residential nil rate band, reports Sara White.

Shared by Accountancy Daily
July 08, 2019

share this article

Inheritance tax (IHT) applies primarily on death, but also to gifts made to individuals within seven years of death and to lifetime gifts other than to individuals, charities and qualifying political parties.

Read more at Accountancy Daily.

Taxpayers frustrated as HMRC toughens late self-assessment stance

UK firms cut investment plans as Brexit alarm hits new high: survey

related articles

UK budget deficit hits five-year high, before election give-aways

Sajid Javid cools talk of raising national insurance threshold to £12,500

Labour to raise corporation tax to 26%

10 arrested over £15m in money laundering conspiracy

HMRC warns on scams ahead of self assessment deadline

IFAC elects its first ever female-majority board

must reads

latest poll

Overall, how would you describe current conditions for your business?

View previous polls

recent comments

array(3) { [0]=> object(stdClass)#6324 (31) { ["id"]=> string(5) "22450" ["contentid"]=> string(5) "35069" ["component"]=> string(11) "com_content" ["ip"]=> string(12) "203.194.51.6" ["userid"]=> string(1) "0" ["modified_by"]=> string(1) "0" ["date"]=> string(11) "4 days ago." ["modified"]=> string(19) "0000-00-00 00:00:00" ["name"]=> string(9) "Anonymous" ["email"]=> string(0) "" ["website"]=> string(0) "" ["notify"]=> string(1) "0" ["title"]=> string(0) "" ["comment"]=> string(41) "Hi David, please make sure you don’t..." ["published"]=> string(1) "1" ["deleted"]=> string(1) "0" ["spam"]=> string(1) "0" ["voting_yes"]=> string(1) "0" ["voting_no"]=> string(1) "0" ["parentid"]=> string(5) "22449" ["importtable"]=> string(0) "" ["importid"]=> string(1) "0" ["importparentid"]=> string(2) "-1" ["unsubscribe_hash"]=> string(32) "cb0ef936b52eaf69aa3d1c1b6ee37f7d" ["moderate_hash"]=> string(32) "d389aaf5ba17a410b3bb5c2ae34f033a" ["customfields"]=> string(0) "" ["user_realname"]=> NULL ["user_username"]=> NULL ["user"]=> string(9) "Anonymous" ["link"]=> string(57) "/component/comment/?task=comment.gotocomment&id=22450" ["overlayComment"]=> string(103) "Hi David, please make sure you don’t have an ad blocker running (either at browser level or server..." } [1]=> object(stdClass)#6313 (31) { ["id"]=> string(5) "22449" ["contentid"]=> string(5) "35069" ["component"]=> string(11) "com_content" ["ip"]=> string(12) "91.85.36.182" ["userid"]=> string(1) "0" ["modified_by"]=> string(1) "0" ["date"]=> string(11) "4 days ago." ["modified"]=> string(19) "0000-00-00 00:00:00" ["name"]=> string(5) "David" ["email"]=> string(0) "" ["website"]=> string(0) "" ["notify"]=> string(1) "0" ["title"]=> string(0) "" ["comment"]=> string(43) "Hello, I can not access this webinar for..." ["published"]=> string(1) "1" ["deleted"]=> string(1) "0" ["spam"]=> string(1) "0" ["voting_yes"]=> string(1) "0" ["voting_no"]=> string(1) "0" ["parentid"]=> string(2) "-1" ["importtable"]=> string(0) "" ["importid"]=> string(1) "0" ["importparentid"]=> string(2) "-1" ["unsubscribe_hash"]=> string(32) "8906f8e35c618734b15ba8cc9d5d153b" ["moderate_hash"]=> string(32) "2ad1ceec304a37168932830ce808cfaa" ["customfields"]=> string(0) "" ["user_realname"]=> NULL ["user_username"]=> NULL ["user"]=> string(5) "David" ["link"]=> string(57) "/component/comment/?task=comment.gotocomment&id=22449" ["overlayComment"]=> string(53) "Hello, I can not access this webinar for some reason." } [2]=> object(stdClass)#6326 (31) { ["id"]=> string(5) "22448" ["contentid"]=> string(5) "35069" ["component"]=> string(11) "com_content" ["ip"]=> string(12) "203.194.51.6" ["userid"]=> string(1) "0" ["modified_by"]=> string(1) "0" ["date"]=> string(11) "1 week ago." ["modified"]=> string(19) "0000-00-00 00:00:00" ["name"]=> string(4) "Maja" ["email"]=> string(0) "" ["website"]=> string(0) "" ["notify"]=> string(1) "0" ["title"]=> string(0) "" ["comment"]=> string(41) "Hi Tony, please click on the 'here' at..." ["published"]=> string(1) "1" ["deleted"]=> string(1) "0" ["spam"]=> string(1) "0" ["voting_yes"]=> string(1) "0" ["voting_no"]=> string(1) "0" ["parentid"]=> string(5) "22447" ["importtable"]=> string(0) "" ["importid"]=> string(1) "0" ["importparentid"]=> string(2) "-1" ["unsubscribe_hash"]=> string(32) "d5988e351310f6ea15e18e798d068aef" ["moderate_hash"]=> string(32) "a2c60c90351809596b68488b04205ee1" ["customfields"]=> string(0) "" ["user_realname"]=> NULL ["user_username"]=> NULL ["user"]=> string(4) "Maja" ["link"]=> string(57) "/component/comment/?task=comment.gotocomment&id=22448" ["overlayComment"]=> string(101) "Hi Tony, please click on the 'here' at the end of the above article and fill out the questionnaire..." } }