Budget 2015: IHT avoidance under scrutiny

The government will scrutinise the use of legal loopholes that help people avoid inheritance tax (IHT), Chancellor George Osborne has said.

In the government's sights is the use - or misuse - of a 'deed of variation' to avoid IHT. The move is part of the government's plans to save £3.1bn by clawing back money lost through tax avoidance, evasion and aggressive tax planning. A deed of variation changes a will after someone's death and enables the beneficiaries of a deceased's estate to alter the distribution of that estate. The Chancellor said the inquiry will draw on a "wide range of views" and report on its findings by the autumn. At last year's Budget, the IHT nil rate band was frozen up to and including 2018 at £3...