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UK: Proposals to simplify inheritance tax rules

UK: Proposals to simplify inheritance tax rules

The Office of Tax Simplification (OTS) conducted a review of and suggested changes to simplify the inheritance tax rules.

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In its second report, the OTS provided the following proposals concerning:

  • The “potentially exempt transfer” regime
  • The scope of “business property relief”
  • Capital gains tax relief known as the “uplift on death”

Overall, the OTS suggested simplifying and clarifying the inheritance tax rules. There were specific recommendations to streamline gift exemptions, revise the rules for lifetime gifts, and address distortions in the operation and scope of relief with respect to business and agricultural property.


Read a July 2019 report prepared by the KPMG member firm in the UK

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