The Office of Tax Simplification (OTS) has received a letter from Chancellor Philip Hammond, asking for a review of the current Inheritance Tax (IHT) system, to ensure it is as simple as possible for everyone involved.
Mr Hammond told the OTS that the current system in which IHT works is too complex and needs to be reviewed. He wants the OTS to ensure the system is fit for purpose, and works as efficiently as possible for those that use it.
The Chancellor wants the review to focus on looking at the technical and administrative issues regarding IHT and where it can be resolved. This includes the processing and submitting of returns and the payment of tax due.
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