Proposed inheritance tax reforms

The all-party parliamentary group (APPG) for inheritance and intergenerational fairness published an informal report Reform of inheritance tax on 29 January 2020 (tinyurl.com/appgiht20). While many such reports are published by MPs it is interesting that it follows two reports on inheritance tax by the Office of Tax Simplification (OTS) in 2019.

Although the OTS publications addressed many technical and administrative issues in practice there is only so much change that it can recommend within its remit of not changing the principles of the relevant tax law and the amount of tax collected. The APPG has no such restraints but it is clear that the evidence it gathered from organisations including the Society of Trust and Estate Practitioners the Chartered Institute of Taxation and the Law Society as well as the experience and wisdom of ...