The latest OTS report on IHT sets out far-reaching suggestions for reform, particularly in the area of lifetime gifts, and around the interaction of IHT and capital gains tax (CGT).
Whilst it is uncertain which suggestions the government will act on, with the tax clearly in transition, this is an appropriate time to review family circumstances and aspirations. In our briefing we focus here on topics highlighted by the OTS, pinpointing opportunities which currently exist to pass wealth to the next generation, and areas worth reconsideration in the light of the OTS report.
