In recent days, the Office of Tax Simplification (OTS) has launched an online survey urging Britons to share their experiences of Inheritance Tax (IHT) and consider whether they feel IHT ought to be simplified or reformed in the years ahead.
The survey comes shortly after the Chancellor, Philip Hammond, called for a full review into the complexities of the existing IHT regime amid concerns that many British families find the rules governing IHT confusing.
Through its online survey, the OTS is hoping largely to “gather evidence from individual members of the public rather than tax professionals or specialists,” but has said that advisers’ thoughts will still be welcomed.
Those completing the survey are advised to respond by 8 June 2018 based only on their own “practical experience or understanding” of the tax.
Announcing the launch of the survey earlier this week, Paul Morton, Tax Director at the OTS, said: “This call for evidence and survey will help inform our research into Inheritance Tax and the recommendations we make in our final report.
“We know that there is a great deal to consider and we want to explore this with the help of individual taxpayers, as well as professional advisers and representative groups.
“In a nutshell, while tax rates are for Government, the role of the OTS is to challenge tax complexity and so help all users of the tax system, and so we hope to hear from as many individuals as possible.
“We are keen to hear both from those who have had some experience of dealing with Inheritance Tax and those who are concerned about it, but who may be unfamiliar with it.”
The online survey can be accessed here.
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