Neil MacGillivray: Is the abolition of IHT on its way?

Receipt-based scheme

clock • 3 min read

If the current IHT regime's days really are numbered, writes Neil MacGillivray, then advisers with clients who have held off making gifts for IHT planning purposes may want to get them to act sooner rather than later

When Chancellor of the Exchequer Philip Hammond wrote to the Office of Tax Simplification (OTS) in January asking it to review inheritance tax (IHT), one had to wonder what the outcome would be. On 27 April, the OTS published a call for evidence. On examination of the questions it asked, it is clear nothing appears to be safe from change. Responses had to be with the OTS by 8 June, with the aim of publishing a report in the autumn before the 2018 Budget, so we may not have that long to wait. Now, my track record on predictions of possible changes to tax legislation is pitiable so I te...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

The rise in UK trust registrations: What advisers need to know

The rise in UK trust registrations: What advisers need to know

Rise in trust numbers reflects regulatory expansion and growing awareness

Jemma Hotta
clock 16 March 2026 • 4 min read
IHT changes push wealthy families towards 'gifting with control'

IHT changes push wealthy families towards 'gifting with control'

Rethinking succession plans

Isabel Baxter
clock 16 March 2026 • 3 min read
Watch on-demand: IHT on pensions – Advisers' questions answered

Watch on-demand: IHT on pensions – Advisers' questions answered

Catch up on 10 March webinar

Professional Adviser
clock 16 March 2026 • 1 min read