Blogging from the Highlands of Scotland
'From fanaticism to barbarism is only one step' - Diderot

Wednesday 16 March 2005

Lesbian and gay couples to benefit from same tax regime as married couples

A detail from today's Budget. On the date that the Civil Partnership Act 2004 comes into force, 5th December 2005, tax laws will be amended to place same-sex civil partners on the same level, for tax purposes, as heterosexual married couples; this will allow civil partners to benefit from exemptions relating to the transfer of assets between partners under Inheritance Tax (IHT) or Capital Gains Tax (CGT) legislation. They will become subject to the same limitations as married couples in their freedom of action as to how their individual incomes may be treated.

All this seems very reasonable and long overdue.

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