The pre-Budget report – Bingo, Boilers and IHT avoidance

The pre-Budget report on 9 December was something of a disappointment. Readers who frequent the Bingo hall, or are considering the replacement of an ancient heating or hot water system, may be grateful to the Chancellor. Otherwise leaving of tax rates and thresholds (including the IHT nil rate band) unaltered for 12 months may make for simplicity though in a disappointing way. Buried in the usual press releases was a section headed ‘Closing Down IHT avoidance Schemes’.