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Death Duties
Former Member
Posts: 1,876,323 The Mix Honorary Guru
If one married partner of an elderly couple dies, am I right in thinking no taxes or death duties are paid until the second partner passes away? Or is the estate taxed twice? Anyone know?
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Comments
It's absoloutley scandolous!
Married couples (and this includes civil partners) are not taxed when they die and the full estate is passed to their spouse, but when the second spouse dies the estate is taxed.
I really don't see the problem with inheritance tax, as most people even now do not have an estate worth over that amount. And if they do, the estate is wealthy enough to contribute something to society.
Huge swathes of London are easily in this bracket purely because of the house they live in, even if they aren't that wealthy otherwise.
I think the threshold might be about £50k too low, but there's nothing wrong with the idea of inheritance tax.
I don't have a problem with the tax necessarily, more in the way it's administered.