The Office of Tax Simplification (OTS) has published a call for evidence and an on-line survey to gather information about people’s experience and perceptions of Inheritance Tax.
This is in response to an earlier request by the Chancellor of the Exchequer and the Financial Secretary to the Treasury that the OTS carries out a review of a range of aspects of Inheritance Tax and how it functions today to identify simplification opportunities.
In particular, the OTS will be considering the existing legislative framework, and the administrative processes through which taxpayers interact with HMRC in relation to Inheritance Tax.
It is seeking views from all those with an interest, including individuals with personal experience of having to go through the process of establishing, when a relative has died or as the executor of a will, whether there is a liability for Inheritance Tax.
“This call for evidence and survey will help inform our research into Inheritance Tax and the recommendations we make in our final report,” explained Paul Morton, OTS Tax Director. “We know that there is a great deal to consider and we want to explore this with the help of individual taxpayers, as well as professional advisers and representative groups.”
“In a nutshell, while tax rates are for Government, the role of the OTS is to challenge tax complexity and so help all users of the tax system, and so we hope to hear from as many individuals as possible,” he added. “We are keen to hear both from those who have had some experience of dealing with Inheritance Tax and those who are concerned about it, but who may be unfamiliar with it.”
For expert legal advice on inheritance tax and estate planning then contact our specialist private client solicitors today.
Contains public sector information licensed under the Open Government Licence v3.0.
