How OTS proposals for IHT will impact life insurers

The Office for Tax Simplification (OTS) has lived up to its name. Last week it published its proposals for simplifying key areas of complexity in the inheritance tax (IHT) rules. Not only has it come up with good high level proposals, but also its explanations of this hideously complex area of tax are surprisingly easy to understand. The complicated thing for both insurers and financial advisers is working out how and when the proposals may or may not translate into reality. What's for sure is any long-term gain means short term diversion of resources to deal with the transition. If i...