UK residents' estates threatened by proposed new tax banding

The estates of UK residents are set to take a further beating with the introduction of a series of measures including capital gains tax (CGT) on death, a tax banding system and the reduction in special allowances if current proposals are adopted. The Institute for Public Policy Research, which came up with the plan, was tasked with making the inheritance tax system fairer. What it has recommended may be fairer but it certainly is more harsh: apart from the addition of the CGT (which is to be set off against the IHT bill), other proposals include reducing the current generous agricultural...