Social Question

cooolbeans's avatar

The Torries support tax cuts for those married, but how does this affect Civil Partnerships?

Asked by cooolbeans (85points) October 15th, 2009

Is it even within the law? At this point in time?

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5 Answers

RareDenver's avatar

People in civil partnerships enjoy all the same tax benefits as married couples. Any assets can be given as gifts between civil partners without attracting inheritance tax, this is because they are covered by spousal exemption rules in the same way as a married couple. Couples in a civil partnership can reduce the amount of CGT (Capital Gains Tax) they pay in the same way as married couples. Each partner has an annual allowance and they can transfer assets between them before they are sold to make the most of both allowances. If either member of a civil partnership was born before April 6 1935 they will also be entitled to the married couples tax allowance.

If they intend to re-introduce the married couples tax allowance it stands to reason it would apply to civil partnerships too.

Nullo's avatar

Tax cuts for married people are supposed to make it easier for them to have and raise kids, not give homosexual couples an easier time financially. I would hope that they would keep that in mind while legislating.

RareDenver's avatar

Having and raising children doesn’t come into my marriage should my wife and I be exempt from the benefits other married couples enjoy? And gay couples can have children too.

Nullo's avatar

@RareDenver Yes. Tax benefits are to facilitate kid-having. I suppose that it was assumed that kids would follow marriage.

RareDenver's avatar

@Nullo so you would propose no tax benefits for marriage, only tax benefits for having children? (we already have child tax credits in the UK anyway) and I as I said, gay couples can still have children.

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