Savers could pay IHT while they are still living

Savers could be forced to pay inheritance tax while they are still alive, under a new drive against tax avoidance planned by the government.

Ministers want to stop wealthy people benefiting from complicated schemes that allow them to dramatically reduce the amount they will owe after their death, the Telegraph reports. Under plans put out for consultation, HM Revenue & Customs would have powers to subject people minimising inheritance tax to "accelerated payment" laws, meaning they would be forced to pay up front if officials suspect them of using new schemes to avoid tax. Experts have warned that under the rules, taxpayers will be treated as "guilty until proven innocent". > Read: Thousands more families to face IHT bi...