“A quarter of estates that pay ‘deeply unfair’ IHT are investigated by HMRC: Quilter”

Jul 25, 2019 | Tax

Tags: HMRC, IHT

Who knows where our tax laws will go under the new brooms of Boris and The Saj. I suspect they won’t have time to make big changes to the complexities of Inheritance Tax which you’ll know, if you’ve been involved in sorting out a will, is bad enough without an HMRC investigation. The new online system for DIY probate looks cheap and simple; but the taxman is waiting round the corner to nab you for any mistakes.

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“HMRC scraps plans to tax pensions after death”

“HMRC scraps plans to tax pensions after death”

A couple of other Statement Highlights (in my world, anyway). A welcome ‘nothing happened’ on the treatment of pensions on death. They were never going to be liable to IHT (too complicated with trusts and trust law) but there was talk of making them income-taxable on the recipients at whatever age you die.

“Raising IHT threshold could cost government £6bn”

“Raising IHT threshold could cost government £6bn”

Well, the lesson of this week in politics must be to expect the unexpected. Or, alternative interpretation, to expect more of the same. The speculation on the future of Inheritance Tax has switched from abolition to a rise in the amount of wealth you can have before the 40% payment hits.