The Chancellor of the Exchequer Philip Hammond has asked the Treasury’s Office of Tax Simplification to carry out a review of inheritance tax, having acknowledged that inheritance tax is particularly complex.
The review will focus on the technical and administrative issues in inheritance tax, such as submitting returns and paying the tax due. However, it will also examine matters of routine estate planning and disclosure and, in particular, whether these rules are causing people to make decisions on transfers, investments and other transactions for inheritance tax reasons which they might otherwise not have made, and which might not otherwise be in their best interests.
At Jordans, our Wills and Probate team advise varied clients, all looking to protect their finances, property, and other valuable goods. We recognise how important it is that this is done correctly, to provide peace of mind to everyone involved.
If you wish to consider the inheritance tax planning opportunities available to you, or are dealing with the administration of an estate where inheritance tax is an issue, we can assist you.