PODCAST · business
Kept Assets - Demystifying Inheritance Tax A Simpler System
by Kept Assets - Demystifying Inheritance Tax A Simpler System
This comprehensive report from the Office of Tax Simplification (OTS) in July 2019, presented to the UK Parliament, outlines a detailed Inheritance Tax (IHT) review, building upon an initial report from November 2018. The document proposes 11 key recommendations aimed at streamlining the complex UK Inheritance Tax system. These recommendations address various aspects, including simplifying gift exemptions, adjusting time limits and taper relief for lifetime gifts, clarifying payment liabilities for lifetime gifts, and reviewing the interaction of IHT with Capital Gains Tax. Additionally, the report suggests changes to reliefs for businesses and farms, and explores enhancements to life assurance products, pensions, and anti-avoidance legislation, while also providing data to inform broader policy discussions on wealth transfer taxation.
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ABOUT THIS SHOW
This comprehensive report from the Office of Tax Simplification (OTS) in July 2019, presented to the UK Parliament, outlines a detailed Inheritance Tax (IHT) review, building upon an initial report from November 2018. The document proposes 11 key recommendations aimed at streamlining the complex UK Inheritance Tax system. These recommendations address various aspects, including simplifying gift exemptions, adjusting time limits and taper relief for lifetime gifts, clarifying payment liabilities for lifetime gifts, and reviewing the interaction of IHT with Capital Gains Tax. Additionally, the report suggests changes to reliefs for businesses and farms, and explores enhancements to life assurance products, pensions, and anti-avoidance legislation, while also providing data to inform broader policy discussions on wealth transfer taxation.
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Kept Assets - Demystifying Inheritance Tax A Simpler System
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