Sibling Couples Debate
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Baroness Deech
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Sibling Couples
Baroness Deech Excerpts(5 years, 8 months ago)
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Lord Bates
I am happy to do that. The standard response of all Treasury Ministers is to say that government policy in this area of tax is constantly under review. That has a particular meaning at the moment, because the Office of Tax Simplification is undertaking a review of inheritance tax. The issue of siblings will be within the scope of that. It is due to report in the spring, and we will take its findings seriously, but our position is clear—that this reflects an impact on a very small number of estates for which, with careful tax planning, much of the liability can be mitigated.
Baroness Deech (CB)
Does the Minister accept that there would be no loss to the Treasury because it would be only a question of rolling over the inheritance tax? Can he also explain exactly what it is about a short marriage or partnership of two years that would give its participants tax advantages not given to siblings living together for 50 or 60 years?