Emma-Jane Weider and Claire Weeks (Maurice Turnor Gardner) focus on those UK resident individuals who are non-UK domiciled but who will become ‘deemed domiciled’ for tax purposes from the start of the 2019/20.
The Office of Tax Simplification (OTS) has published a call for evidence and an online survey to gather information for its review of inheritance tax (IHT), which aims to explore simplification around existing IHT legislation and administrative processes.
Jon Preshaw and Natalie Martin (PwC) identify areas of possible risk.
IHT receipts taken by HMRC have jumped to a record-high of £4.6bn in 2015/16, up 21% from £3.8bn a year earlier, says Wilsons, a private client law firm. The £4.6bn collected by HMRC in the last year is an increase of 70% from 2010/11, when the total amount raised was just £2.7bn.