There are as many reasons to get married as there are not to and money, of course, should never be one. However, our tax system does in many ways favour wedlock over shack-up, none potentially more significant than the attractively-named Inheritance Tax Inter-Spousal Allowance. If you happen, like the late Ken Dodd to be worth £7.5m and pass your fortune to your fiancé, the tax bill would be nearly £3m. If your fiancé becomes your wife, the whole lot passes on tax-free. That could help you overcome many a scruple.
“IHT to be ‘battleground policy’ in general election as receipts continue to grow”
Just when you thought Inheritance Tax was to become yesterday’s news, it’s back as, apparently and potentially, a ‘battleground policy’ as the election looms.