On 4 July, a House of Commons paper on IHT was handed to MPs, briefing them on its structure, history, proposals for reform over the last 20 years and academic rationale. The paper itself offers no new information and the reason for its distribution is a matter of speculation, but it may signal an upcoming review of this socially contentious tax. The paper contains statistics on the yield from IHT over the last few years, predicting £5bn for the current tax year and demonstrating that both receipts and the number of taxable estates have roughly doubled since 2008/09. We have, of course, seen a freeze on the level of the IHT-threshold at £325,000 since 2009 and significant increases in property values over the same period.
It will be extremely interesting to see how any debate on this paper evolves - watch this space!