Chancellor Philip Hammond has written to the Office of Tax Simplification (OTS) to request a review of inheritance tax (IHT) with a view to simplifying the current regime.
In a letter, dated 19 January, Hammond (pictured) said: "I am writing to acknowledge the OTS's recent interest in the IHT regime. IHT, and the system within which it operates, is particularly complex, and I would like to request that the OTS carry out a review of the IHT regime. "I would be most interested to hear any proposals you may have for simplification, to ensure that the system is fit for purpose and makes the experience of those who interact with it as smooth as possible." Hammond said the review should include a focus on the technical and administrative issues within IHT, su...
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