Tyrie calls on Osborne to tidy IHT rules 'mess'

Tyrie (pictured) said the proposals, currently in draft, were too complex for consumers and were beneficial only to tax advisers and lawyers. Chancellor George Osborne announced in his Summer Budget in July the threshold at which IHT is levied will rise for couples from £650,000 to £1m after April 2017. Tyrie welcomed the change, which will be funded by a pension tax relief cut for people earning more than £150,000, but said the underlying rules were too complex and their implementation too long. The government will publish draft Finance Bill clauses later this week. In a letter...