BusinessCompany NewsBudget 05: Tax changes for same-sex couples

Budget 05: Tax changes for same-sex couples

Wealthy same-sex couples could be out of pocket following Brown's announcement of tax changes.

Wealthy same-sex couples that live together could find themselves out of pocket following Gordon Brown’s announcement of changes to tax legislation.

A new legal status will be introduced, known as civil partners, who will be treated the same for tax purposes as married couples.

However, Baker Tilly national head of tax David Payne said that changes to CGT relating to property settlements, among others, will hit affluent same sex couples living together hardest.

Gay and lesbian lobby group OutRage! has welcomed the changes introduced by Brown.

‘We wish for all couples that live together to be treated equally,’ said an OutRage! spokesman.

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