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...

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