Lamport Bassitt Solicitors - Legal News - Group calls for inheritance tax reforms


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Group calls for inheritance tax reforms A lobbying organisation has called on the government to reform inheritance tax laws. According to the Low Incomes Tax Reform Group (LITRG), there is a quirk in current legislation that has an unfair effect on elderly widows and widowers. It pointed out that a small number of older people whose spouses died before March 1972 are being excluded from the transferable nil rate band relief introduced in 2007. The organisation's John Whiting said described that tax relief as "very good" but added that it brought with it some unfairness. He remarked: "The change needed here is simple, would cost a very small amount and would remove a tarnish from an enlightened and sensible tax measure. Why can't that change be made?" LITRG, which was formed in 1998 as a continuation of an initiative started by the then president of the Chartered Institute of Taxation John Andrews, said it is mainly elderly ladies who had to cope as single parents for many years who feel unfairly treated by the new rule. Related Articles: 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net �450m a year in savings 17/4/2012 - Further regulation to encourage family mediation: justice minster More Individual Legal Services News