The Office of Tax Simplification (OTS) has recommended the government consider ensuring death benefit payments from term life insurance policies are IHT-free on the death of the life assured, without the need for them to be written in trust.
The recommendation is in the OTS's second report on the Inheritance Tax Review. Its first report, in November 2018, was prompted by a request from the chancellor in January 2018 for a thorough review of...
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