If you read my recent article/document or for the social media types “white paper” about inheritance tax, you will appreciate that I suggested care is taken on making long-term IHT plans that cannot be easily altered. Today’s “Financial Adviser” (trade press) has a front page item on this very topic.
This is a timely reminder that the… wait for it… “Office of Tax Simplification” or OTS (set up last year) is currently reviewing 70 of the 1042 different tax reliefs available. My maths – thats 6.7% of them. The OTS will report to the Government in March just before the Budget. The main gripe, it that there are too many loopholes and that HMRC are keen to close loopholes.
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