Topic of the month

Whither BPR?

The Treasury collected some £5.2bn of Inheritance Tax (IHT) last year,[1] which was a record amount. The Disclosure of Tax Avoidance Schemes (DOTAS) regime has been significantly extended to encompass much of the more creative side of inheritance tax planning, with only a rather imprecise “contrived or abnormal” test to protect against mandatory disclosure.[2] In this climate, statutory reliefs are more valuable than ever.