Should inheritance tax be deferred?
With many people falling victim to covid-19, any sort of relief could ease financial struggles.Official figures state that there are currently more than two million people who have tested positive for the coronavirus around the world, resulting in over 120,000 deaths.
But those numbers are likely much higher.
"'In this world nothing can be said to be certain, except death and taxes." Those words were written by Benjamin Franklin just over 200 years ago and stand true today.
For many, the tragic loss of life will come hand-in-hand with having to deal with inheritance tax (IHT).
Given the scale of the outbreak and the challenging working environments that advisers and lawyers find themselves in, is there any argument for the UK to defer IHT or offer alternative means of support?
International Adviser reached out to tax experts to understand whether the government should consider such a measure and if it is feasible at all. Please link to read the full article incuding insight from Scott Hood and Kevin Raftery of QB Partners.