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Posted by Emily Jones

In order to address what it describes as a current unfairness in inheritance tax laws, the Low Incomes Tax Reform Group (LITRG) has called on the government to implement changes.

According to the organisation, there are a small number of people whose spouses died before March 1972 and who are therefore being excluded from the transferable nil rate band relief that was introduced in 2007.

Predominantly, it is older ladies who had to cope as single parents for many years who feel the rule is unfair, the group suggested.

LITRG's John Whiting remarked: "The change needed here is simple, would cost a very small amount and would remove a tarnish from an enlightened and sensible tax measure. Why can't that change be made?"

He went on to suggest that, while the tax relief is a good thing, aspects of it are unjust.

The LITRG was established in 1998 as a continuation of an initiative started by the then president of the Chartered Institute of Taxation John Andrews.

22/01/2010 16:38