Accountants in the frame on IHT claims - papers 12 July

Scrutiny of IHT returns declared against the theoretical sums which should be collected on behalf of the Treasury are to be stepped up as this action has not previously been carried out – unlike in, say, the US, the paper reports. The Commons Public Accounts Committee is set to state in a report that Revenue & Customs does not know how much IHT is being lost to non-compliance, nor what the IHT tax 'gap' actually is. However, Treasury pressure to top up its coffers will not go unchallenged; accountants who will be squeezed to ensure they are more forthcoming in reporting clients assets...