The Office of Tax Simplification (OTS) published its long-awaited second report on inheritance tax (IHT) in July with a range of useful proposals. The report, focused on simplifying the structure of IHT, contained some surprises, not only in the recommendations it makes, but also in those areas it has left untouched. Gifts The OTS suggests…

July ended with a new prime minister in Boris Johnson and a new chancellor in Sajid Javid, both with different ideas from their immediate predecessors. There is already speculation about what Mr Javid might produce in his first Budget and more importantly, what some much publicised tax proposals could cost. At the start of his…

A government-commissioned report has proposed significant changes to the funding of university students in England. Students resident in England (different rules apply in other parts of the UK) pay a maximum university tuition fee of £9,250 per year, financed by a student loan. Further loans to cover maintenance plus interest at RPI+3% mean that at…

A paper presented to the Labour Party has suggested the abolition of inheritance tax (IHT). Labour Party proposals to kill off inheritance tax (IHT) and replace it with a gifts tax were reported across several newspapers last month. The coverage was somewhat creative, as the idea was plucked from a paper prepared for the Labour…