New plans to crack down on Inheritance Tax (IHT) unveiled by HM Revenue & Customs (HMRC) in recent days could affect thousands of UK families that have set up trusts in an effort to mitigate their IHT liability, it has emerged.
An official review of Inheritance Tax (IHT) will be published before the end of the year, after Chancellor Philip Hammond bypassed the opportunity to address IHT in this week’s Budget, it has emerged.
A new analysis carried out by the Office for Budget Responsibility (OBR) this week has estimated that Inheritance Tax (IHT) receipts are likely to soar to a new record high for the 2018/19 tax year.
Chancellor Philip Hammond is facing fresh calls to consider Inheritance Tax (IHT) reforms ahead of the Autumn Budget on Monday 29 October.
New data published by the Office of the Public Guardian in recent days reveals that the number of people submitting Lasting Power of Attorney (LPA) applications rose by two per cent year-on-year between April and June 2018.