View more on these topics

Plan for civil rights and wrongs

The introduction of equal treatment on all matters tax through full recognition being granted to civil partnerships creates a series of planning issues on which professional advice will need to be sought.

Before anyone runs off to formalise their union, they will need to remember that where they currently enjoy capital gains tax exemption on their principal residence, this will be lost on their being party to a civil partnership.

The major benefits that are made available to a same-sex couple include the same treatment as married couples on IHT, CGT and income tax.

Although it has not been spelt out, there are, of course, implications when a civil partnership is term-inated. Pension schemes will need to review their rules and practices for people who enter into a civil partnership and would be wise to consider the implications if one of these partnerships fails.

In short, the couple will now have the opportunity to move assets between each other on death or before without triggering any tax issues. This all takes effect from December 5, 2005, the same date that the Civil Partnerships Act (CPA) takes effect.

Time does not permit me to fully digest the CPA in detail but one must ponder if it only requires that people in a civil partnership are of the same sex.

Does this open up the potential for a partnership between a father and his son as a major opportunity in IHT planning?

It could also allow two platonic friends to link up following the death of their partners and take the benefit of this change.


Mixed feelings from UK lenders on stamp duty threshold changes

Lenders are expressing mixed feelings with the announcement the zero-rate stamp duty tax is to be raised to 120,000.Abbey chief economist Barry Naisbitt says this is overall a good step in the right direction for first time buyers. Today the average house price is 172,788, an increase of 169 per cent according to Abbey. More […]

Eurolife Bondholders Vote For Restructuring

Investors in the Eurolife Secured Bond have voted to accept the restructuring proposals they were offered as an alternative to going into administration. The bond was issued in 1999 but was unable to pay out in January this year. The restructuring proposals offer a minimum repayment of 60 per cent of the amount owed by […]

How to balance bottom-up with top-down research in constructing multi-asset credit portfolios

In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm