Is it closing time for business property relief?
23 / 01 / 2019
The article was originally published by ePrivateClient on 21/01/2019.
Inheritance Tax (IHT) looks set to change. Last year, Philip Hammond commissioned a review by the Office of Tax Simplification (OTS) into the administrative and technical aspects of IHT. In keeping with its dubious accolade of the “most hated tax”, the consultation provoked more replies than any other OTS review to date.
Following that process, the first of two reports was published in November 2018. Whilst the report mainly summarises the comments received as far as Business Property Relief (BPR) is concerned, it contains potential clues as to the recommendations promised in the second report due in spring 2019.
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