IHT faces "top-down review" by OTS

IHT provisions and reliefs would  be repealed, simplified or increased in line with inflation where necessary, the Office for Tax Simplification (OTS) says. This "long-term project" would include a review of the taxation of trusts, which are often used to pass family assets between generations, it says. On business CGT, scraping the relief for indexation would make computations simpler and reduce administrative costs for both companies and for HMRC, the OTS says. It says the calculation of indexation is a common source of error, and calls for a consultation to abolish it. Altern...