Office of Tax Simplification urges creation of digitised IHT system

Unadvised can spend 50 hours on IHT admin

Hannah Godfrey
clock • 3 min read

The Office of Tax Simplification (OTS) urges government to create a digital IHT system to make process simpler and smoother

In January 2018, chancellor of the Exchequer Philip Hammond asked the OTS to carry out a review of inheritance tax (IHT) to make recommendations on simplification and to make the experience of those who interact with it as smooth as possible. In a report published today (23 November), the OTS has now recommended the government implement a fully integrated digital system for IHT - ideally including the ability to complete and submit a probate application. It acknowledged creating a full digitised system could be expensive and time-consuming, so suggested changes should be made to the c...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

ABI names Phoenix Group CEO as president

ABI names Phoenix Group CEO as president

Succeeds Zurich’s Tim Bailey

Jaskeet Briah
clock 26 February 2025 • 1 min read
FCA reconsidering ongoing advice services rules as review findings revealed

FCA reconsidering ongoing advice services rules as review findings revealed

Advisers delivering suitability reviews in ‘vast majority’ of cases

Jen Frost
clock 24 February 2025 • 2 min read
IPT up to £7.6bn in 24/25

IPT up to £7.6bn in 24/25

£853m in January 2025

Cameron Roberts
clock 21 February 2025 • 1 min read