Neil MacGillivray: Simplifying IHT (Part 1) - The winners and losers

A year and a half after then-chancellor Philip Hammond wrote to the Office of Tax Simplification (OTS) asking it to review the UK's inheritance tax (IHT) system, the office's second report - entitled Simplifying the design of IHT - has finally been released. The OTS's first report focused on feedback from its consultation and on ways of simplifying the administration of IHT. This new report, however, covers proposed changes to the tax itself and, while the changes are not as radical as many had predicted (if adopted), advisers need to be aware of the major impact they could it have on IH...