Share with your friends

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.


Related content

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

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal