FT interview: Lynne Rowland provided in-depth insight to Emma Agyemang at the Financial Times on the OTS’ IHT review
The chancellor requested an independent review on inheritance tax (IHT) that suggested the “seven-year rule” of transferring assets be reduced to five. This suggestion was published by the Office of Tax Simplification, who deduced that the proposal could cause IHT to be more easily dealt with in the future.
Tax partner, Lynne Rowland, observes that a consequence of this suggestion could result in an increased number of people procuring insurance to counter the risk of not being alive after five years.
For more information on IHT or other tax matters, please contact a member of our team or visit our tax web page.
Lynne’s comments appear in an article in the Financial Times (behind a pay wall).