The quadruple 'unfair' tax hits on unmarried/cohabiting Partners! Fear not, there are some great tax planning options you cannot afford to ignore 👇👇👇
Couples opting not to marry have doubled in the last 5 years, and whilst this is a growing trend, legislation is still stuck in the dark ages, favouring married people with children.
The Taxation Impact:
❌️The transferable allowances (NRB/RNRB) do not apply to unmarried couples, and those without children to receive their estate. A major disadvantage compared to married couples.
❌️Additionally such couples do not benefit from the spousal exemption from inheritance tax.
❌️Inheritance Tax on 1st and 2nd death.
❌️Capital Gains Tax - Unable to transfer assets between partners CGT free, unlike married couples.
Intestacy rules (if you die without a Will) unmarried/cohabiting partners aren't recognised, and won't automatically inherit their deceased partners assets, including the family home.
Having a Will in place, can surprisingly address some of the above unfair states of play, easily and simply! 👇👇👇
Enquire today to find out how:
📞 0345 0175596
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