The government does not have an estimate of the savings in social care from free care provided by siblings living in these circumstances.<\/p>
The government has not assessed the inheritance tax liabilities in these circumstances. All individuals benefit from a £325,000 tax free threshold for inheritance tax.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1091", "label" : {"_value" : "Biography information for Lord Bates"} } , "answeringMemberPrinted" : {"_value" : "Lord Bates"} , "dateOfAnswer" : {"_value" : "2018-08-02", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-08-02T12:01:08.703Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2018-07-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Inheritance Tax: Siblings"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government, further to the answer by Baroness Williams of Trafford on 20 July (HL Deb, col 1413), what estimate they have made of (1) the savings in social and other state costs of free care provided for siblings living in sibling-couple households, and (2) the annual income to HM Treasury as a result of the tax applied to siblings when one sibling-couple partner dies.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/738", "label" : {"_value" : "Biography information for Lord Alton of Liverpool"} } , "tablingMemberPrinted" : [{"_value" : "Lord Alton of Liverpool"} ], "uin" : "HL9755"} , {"_about" : "http://data.parliament.uk/resources/418178", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/418178/answer", "answerText" : {"_value" : "
All individuals have an inheritance tax threshold (or \u2018nil rate band\u2019), currently £325,000, which is the value below which an estate does not have to pay any inheritance tax. The Summer Budget 2015 announced that from April 2017, a new additional transferable residence nil-rate band of £175,000 is being phased in for individuals who leave their home on death to their children, grandchildren or other direct descendants. Together with the existing nil-rate band this means that most individuals will have an effective inheritance tax threshold of up to £500,000 each.<\/p>
<\/p>
<\/p>
<\/p>
The long standing spouse exemption means that any transfers of assets between spouses or civil partners are exempt from inheritance tax. The Government has no plans to change the inheritance tax treatment of long-term cohabiting and co-dependent siblings.<\/p>
<\/p>
<\/p>
<\/p>
Where a property is jointly owned by siblings, the individual sibling\u2019s share of the property will be included in their estate for inheritance tax purposes. Each individual\u2019s estate is considered separately and the position for siblings is the same as for other co-habiting individuals.<\/p>
<\/p>
<\/p>
<\/p>
Full details of the legislation relating to the new residence allowance announced in the Summer Budget 2015 can be found at clause 9 of the Summer Finance Bill. Guidance will be published nearer the time that the new allowance comes into effect.<\/p>
<\/p>
<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4535", "label" : {"_value" : "Biography information for Lord Bridges of Headley"} } , "answeringMemberPrinted" : {"_value" : "Lord Bridges of Headley"} , "dateOfAnswer" : {"_value" : "2015-09-23", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "HL2150"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-09-23T15:35:09.133Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2015-09-10", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Inheritance Tax: Siblings"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty\u2019s Government, further to the answer by Baroness Williams of Trafford on 9 September (HL Deb, cols 1427\u20139), whether they will publish full details of how the family home allowance announced in the 2015 Budget will affect siblings who have joint ownership of their home.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4202", "label" : {"_value" : "Biography information for Lord Lexden"} } , "tablingMemberPrinted" : [{"_value" : "Lord Lexden"} ], "uin" : "HL2149"} , {"_about" : "http://data.parliament.uk/resources/418179", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/418179/answer", "answerText" : {"_value" : "
All individuals have an inheritance tax threshold (or \u2018nil rate band\u2019), currently £325,000, which is the value below which an estate does not have to pay any inheritance tax. The Summer Budget 2015 announced that from April 2017, a new additional transferable residence nil-rate band of £175,000 is being phased in for individuals who leave their home on death to their children, grandchildren or other direct descendants. Together with the existing nil-rate band this means that most individuals will have an effective inheritance tax threshold of up to £500,000 each.<\/p>
<\/p>
<\/p>
<\/p>
The long standing spouse exemption means that any transfers of assets between spouses or civil partners are exempt from inheritance tax. The Government has no plans to change the inheritance tax treatment of long-term cohabiting and co-dependent siblings.<\/p>
<\/p>
<\/p>
<\/p>
Where a property is jointly owned by siblings, the individual sibling\u2019s share of the property will be included in their estate for inheritance tax purposes. Each individual\u2019s estate is considered separately and the position for siblings is the same as for other co-habiting individuals.<\/p>
<\/p>
<\/p>
<\/p>
Full details of the legislation relating to the new residence allowance announced in the Summer Budget 2015 can be found at clause 9 of the Summer Finance Bill. Guidance will be published nearer the time that the new allowance comes into effect.<\/p>
<\/p>
<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4535", "label" : {"_value" : "Biography information for Lord Bridges of Headley"} } , "answeringMemberPrinted" : {"_value" : "Lord Bridges of Headley"} , "dateOfAnswer" : {"_value" : "2015-09-23", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "HL2149"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-09-23T15:35:08.697Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2015-09-10", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Inheritance Tax: Siblings"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty\u2019s Government, further to the answer by Baroness Williams of Trafford on 9 September (HL Deb, cols 1427\u20139), what is the position of siblings who live together in jointly owned property under current inheritance tax laws.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4202", "label" : {"_value" : "Biography information for Lord Lexden"} } , "tablingMemberPrinted" : [{"_value" : "Lord Lexden"} ], "uin" : "HL2150"} , {"_about" : "http://data.parliament.uk/resources/390082", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/390082/answer", "answerText" : {"_value" : "
The government has no plans to change the inheritance tax treatment of long-term cohabiting and co-dependent siblings.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4536", "label" : {"_value" : "Biography information for Lord O'Neill of Gatley"} } , "answeringMemberPrinted" : {"_value" : "Lord O'Neill of Gatley"} , "dateOfAnswer" : {"_value" : "2015-07-21", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-07-21T16:28:29.673Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2015-07-15", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Inheritance Tax: Siblings"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty\u2019s Government whether they plan to extend inheritance tax relief to long-term cohabiting and codependent siblings.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3756", "label" : {"_value" : "Biography information for Baroness Deech"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Deech"} ], "uin" : "HL1494"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 4, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }