24.07.19

Inheritance Tax is too complicated. It needs to be simplified

Inheritance Tax (IHT) has been described as ‘fiendishly complex’. A new report by the Office of Tax Simplification (OTS) offers 11 recommendations for simplifying it. When even the chancellor describes a tax as “particularly complex”, it’s a sure sign it … Find out more »

Author Archives: Probate Practice

Delays of up to 12 weeks as probate moves online

Since the introduction of the new online system, grants of probate are taking up to twelve weeks to finalise. When comparing this with the usual ten day turn around, it can’t be deemed entirely successful. This issue comes as higher … Find out more »

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Research suggests 70% of individuals ‘unaware of inheritance tax nil-rate band’

Research carried out by Canada Life has suggested that a significant amount of individuals ‘do not know the threshold’ for the standard inheritance tax (IHT) nil-rate band. Canada Life found that 70% of those surveyed did not know the standard … Find out more »

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Chancellor commissions OTS to review inheritance tax rules

Chancellor Philip Hammond has commissioned the Office of Tax Simplification (OTS) to review the UK’s inheritance tax (IHT) regime, and outline ways in which the tax can be simplified. In a letter to Angela Knight, Chair of the OTS, and … Find out more »

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