IHT rule will affect virtually every will - papers 27th March

Tax experts claim “virtually every will in the country” will have to be rewritten, and they have written to The Times to defend the paper’s report the government’s move - announced in last week’s Budget - would hit at least 100,000 families. The report was challenged by Dawn Primarolo, the Paymaster General, who insists the numbers affected “make up only a tiny fraction of the wealthiest top 1% of the population”. The new rules apply to accumulation and maintenance trusts set up by parents who wish to pass on assets free of tax while preventing them from being squandered. Typically...