Simplify Inheritance Reduce 7 Year Rule to 5 and Abolish Taper Relief
Published / Last Updated on 15/08/2019
The government should as a package:
Reduce the 7 year period to 5 years, so that gifts to individuals made more than 5 years before death are exempt from Inheritance Tax and abolish taper relief.
The government should also remove the need to take account of gifts made outside of the 7 year period when calculating the Inheritance Tax due (under what
is known as the ’14 year rule’).
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