Tax Day: Treasury moves to cut IHT red tape

The move announced as part of the government department's ‘tax day', will see lower value estates' form-filling burden reduced. It would apply to estates that fall below the main IHT threshold of up to £1m for the surviving partner. The change is in response to the Office of Tax Simplification's 2019 report on the issue.   Many families who do not need to pay IHT are still obliged to fill out HM Revenue & Customs (HMRC) forms to obtain a grant of probate after a loved one dies. However, from 1 January 2022, this rule will be lifted for more than 90% of non-taxpaying estates. The go...