CTO and Treasury at loggerheads over IHT rules

The pre-Budget report (PBR) in December, said legislation “will be brought forward in the Finance Bill to clarify how IHT will apply to choices under the new pension scheme rules and that further details will be announced in the New Year”. But with A-Day looming discussions between HM Revenue and Customs (HMRC) and the industry reveal the rules have still not been decided. Rachel Vahey, pensions development manager at Scottish Equitable, says recent discussions with the Revenue revealed the Capital Tax Office - the part of the Revenue which deals with IHT - was still “in discussions” wi...