Shorter Reads

Taking tax online?

Aidan Grants comments on the first report from the Office for Tax Simplification on how the HMRC’s process could be improved.

1 minute read

Published 28 November 2018

Authors

Share

Key information

  • Specialisms
  • Private Wealth
  • Services
  • UK trusts, tax and estate planning

The Office for Tax Simplification has released its first report on how HMRC’s process of collecting inheritance tax could be improved by simplifying forms and making more of the process digital. These are the sorts of changes that might not capture the imagination of the public but, if introduced, might well make private client lawyers and accountants go weak at the knees…

The report is a lengthy document which only the hardiest of souls will complete, however some key points arising out of the report include:

1. Calling for a fully-integrated digital IHT system, potentially meshed with the new online probate platform.

2. Immediate changes to the forms for the administration of estates – for example expanding the circumstances that can be covered by briefer forms or no forms at all.

3. Changes in particular to Form IHT100, which is a cumbersome document that practitioners will be aware can be a complex form even with the most straightforward of tax charges.

4. On a broader level, working to change the public’s perception about inheritance tax – the report highlights that a 2015 YouGov survey ranked inheritance tax as the most ‘unfair’ of 11 major taxes.

It will of course remain to be seen how many (if any) of these recommendations find their way into actual law and practice. The OTS is only an independent adviser to the government, whose aim is to make the taxation process easier for the tax payer. Given the other matters on the Government’s mind at the moment, one struggles to envisage where they will find the time.

Find the full publication from GOV.UK here.

Message us on WhatsApp

Related latest updates
PREV NEXT

Related content

Arrow Back to Insights

Shorter Reads

Taking tax online?

Aidan Grants comments on the first report from the Office for Tax Simplification on how the HMRC’s process could be improved.

Published 28 November 2018

Associated sectors / services

  • UK trusts, tax and estate planning

Authors

The Office for Tax Simplification has released its first report on how HMRC’s process of collecting inheritance tax could be improved by simplifying forms and making more of the process digital. These are the sorts of changes that might not capture the imagination of the public but, if introduced, might well make private client lawyers and accountants go weak at the knees…

The report is a lengthy document which only the hardiest of souls will complete, however some key points arising out of the report include:

1. Calling for a fully-integrated digital IHT system, potentially meshed with the new online probate platform.

2. Immediate changes to the forms for the administration of estates – for example expanding the circumstances that can be covered by briefer forms or no forms at all.

3. Changes in particular to Form IHT100, which is a cumbersome document that practitioners will be aware can be a complex form even with the most straightforward of tax charges.

4. On a broader level, working to change the public’s perception about inheritance tax – the report highlights that a 2015 YouGov survey ranked inheritance tax as the most ‘unfair’ of 11 major taxes.

It will of course remain to be seen how many (if any) of these recommendations find their way into actual law and practice. The OTS is only an independent adviser to the government, whose aim is to make the taxation process easier for the tax payer. Given the other matters on the Government’s mind at the moment, one struggles to envisage where they will find the time.

Find the full publication from GOV.UK here.

Associated sectors / services

  • UK trusts, tax and estate planning

Authors

Need some more information? Make an enquiry below.

    Subscribe

    Please add your details and your areas of interest below

    Specialist sectors:

    Legal services:

    Other information:

    Jurisdictions of interest to you (other than UK):

    Article contributor

    Enjoy reading our articles? why not subscribe to notifications so you’ll never miss one?

    Subscribe to our articles

    Message us on WhatsApp (calling not available)

    Please note that Collyer Bristow provides this service during office hours for general information and enquiries only and that no legal or other professional advice will be provided over the WhatsApp platform. Please also note that if you choose to use this platform your personal data is likely to be processed outside the UK and EEA, including in the US. Appropriate legal or other professional opinion should be taken before taking or omitting to take any action in respect of any specific problem. Collyer Bristow LLP accepts no liability for any loss or damage which may arise from reliance on information provided. All information will be deleted immediately upon completion of a conversation.

    I accept Close

    Close
    Scroll up
    Get In Touch Print this page
    Collyer Bristow
    ExpandNeed some help?Toggle

    < Back to menu

    I have an issue and need your help

    Scroll to see our A-Z list of expertise

    Get in touch

    Get in touch using our form below.