Comments on: Your Thoughts: Inheritance Tax, Scrap It or Keep It? https://www.lawyer-monthly.com/2017/09/your-thoughts-inheritance-tax-scrap-it-or-keep-it/ Legal News Magazine Sat, 05 May 2018 13:28:30 +0000 hourly 1 https://wordpress.org/?v=6.6 By: terry sheridan https://www.lawyer-monthly.com/2017/09/your-thoughts-inheritance-tax-scrap-it-or-keep-it/#comment-1298 Sat, 05 May 2018 13:28:30 +0000 https://www.lawyer-monthly.com/?p=16258#comment-1298 In reply to Peter Kimpton and Rose Tibbles.

I could not agree more - IHT is unfair to those who cohabit.
You may not be aware that the Office of Tax Simplification is currently conducting a review of IHT which includes a public consultation. To provide your point of view simply write to the OTS at anytime up to 11:45pm on 8 June 2018 at the following email address ots@ots.gsi.gov.uk
See https://www.gov.uk/government/consultations/inheritance-tax-review-call-for-evidence-and-survey

I recently wrote a 6 page submission as my response to the consultation - I wish I had quoted Theresa May.

]]> By: Peter Kimpton and Rose Tibbles https://www.lawyer-monthly.com/2017/09/your-thoughts-inheritance-tax-scrap-it-or-keep-it/#comment-1257 Wed, 21 Mar 2018 10:53:51 +0000 https://www.lawyer-monthly.com/?p=16258#comment-1257 I am now 76 and during my working life, I never earned more than £17,250. I have always been very frugal and lived totally within my means. I have never borrowed money ( apart from a very small mortgage which was paid off long ago). On one occasion , having been made redundant three times, I purchased a property for £96,000 and spent the next 5 years doing it up myself. It kept me sane. When done, the property was valued at £650,000 - a nice return on my blood sweat and tears. As it happens, my partner Rose and I are not married (by choice) but have been together for 26 years. However, in terms of long term partners, the government basically does not recognise us but they do recognise married couples and civil partners. They therefore think it is quite in order to tax us (individually) at a staggering 40% on our estates (over £325,000) when we have already paid tax on our salaries, paid tax on our savings and paid tax on goods we buy. Unfair is not the word but they just do not care. I well remember Theresa May, when she was elected as PM, standing on the steps of Downing Street saying she wanted to be head of a country that was fair to all. Hollow laugh!! I truly hope that Tim Loughton's Private Members Bill passes through parliament and subsequently the Lords and that fairness will win the day.

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