Revenue tackles IHT law and simplification

Paymaster general, Dawn Primorolo in a Ministerial Statement, first announced the paper on the 21 March, which also seeks consensus on how in practice cases, which are chargeable to IHT should be identified and how those charges should be calculated. The Revenue also seeks to tackle rules applying to any rights where failing to exercise them could adversely affect the value of a person’s estate for IHT purposes, outlining four questions it believes need to be addressed. Firstly: Failing to exercise a right diminishes the estate of the person who could have exercised it? Revenue says...