Inheritance tax put under review as Chancellor condemns overly complicated rules on passing on wealth after death



Chancellor Philip Hammond has ordered a sweeping review of inheritance tax and whether it 'causes any distortions to taxpayer decisions'.
Officials are set to probe everything from submitting returns and paying tax, to making IHT-free gifts and estate planning - but there is no indication of whether the 40 per cent 'death tax' on estates over a certain level could be cut, or increased.
The Chancellor's move comes in the midst of complicated changes by predecessor George Osborne, under which you can pass on more than before without a tax penalty - but only if you own your home and give it to... read more

 
30 January 2018 in Business, Views: 55
Source: Daily Mail
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