Inheritance Tax: Cohabiting Siblings - Question

Part of the debate – in the House of Lords at 12:19 pm on 10th February 2021.

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Photo of Lord Palmer of Childs Hill Lord Palmer of Childs Hill Deputy Chairman of Committees, Deputy Speaker (Lords) 12:19 pm, 10th February 2021

My Lords, in support of the noble Lord, Lord Lexden, without a change in the law, it pushes siblings who can afford it to employ expensive lawyers to incorporate a discretionary trust in their wills, which on a joint estate of £800,000 will save tax of £130,000, not as the Minister has just said. Does she agree that there is an urgent need to change the law to make such imaginative tax avoidance unnecessary?