Neil MacGillivray: Will the tax advantages for married couples and civil partnerships remain a happy home?

clock • 3 min read

The new calendar year has come and gone and so, as we start the edge closer to the end of the tax year, Neil MacGillivray looks at the planning opportunities available to married couples and civil partners

Historically, married couples and those in civil partnerships have been in a more tax privileged position - such as with income, capital gains and inheritance tax - than those couples who cohabit. Many see this, understandably, as outdated and unfair, and the recent challenge of the Marriage Allowance by Labour also reflects this view. There is an abundance of tax planning opportunities for couples, so for this article I thought I would look at the Marriage Allowance and Married Couples Allowance, both of which are available to those in marriages as well as civil partnerships. Both allow...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

The right advice for divorcing family business owner clients

The right advice for divorcing family business owner clients

Making it work with proper planning and professional advice

Joanna Toloczko
clock 21 March 2024 • 5 min read
IHT receipts continue to rise as government nets £6.8bn

IHT receipts continue to rise as government nets £6.8bn

Latest figures from HMRC show tax take continues to soar

Jenna Brown
clock 21 March 2024 • 1 min read
Child benefit changes could see higher earners reap pension boost

Child benefit changes could see higher earners reap pension boost

Analysis from Quilter says gains to be made from Spring Budget changes

Jenna Brown
clock 11 March 2024 • 2 min read