header-logo header-logo

Death and taxes

15 May 2008 / Julian Washington
Issue: 7321 / Categories: Opinion , Tax , Wills & Probate , Other practice areas
printer mail-detail

The Burden sisters could not have won their case without unravelling some of the fundamentals of the tax system, says Julian Washington

Sybil and Joyce Burden are aged 82 and 90 respectively. They are sisters, both unmarried, and live together in a family home near Marlborough, Wiltshire, which was built on a piece of land inherited from their parents. Every year since 1976 they have written to the chancellor of the exchequer before each budget about a tax problem and asked for the rules to be changed.

The essence of their problem is that, unlike in the case of spouses, where there is generally complete exemption from inheritance tax on the first death, no such exemption will be available when Joyce or Sybil dies. In all likelihood this will cause the survivor to have to sell the house in order to fund the tax bill. As for many people, the greatest part of their wealth is in bricks and mortar; they do not have enough liquid assets to pay the tax when the

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Gilson Gray—Linda Pope

Gilson Gray—Linda Pope

Partner joins family law team inLondon

Jackson Lees Group—five promotions

Jackson Lees Group—five promotions

Private client division announces five new partners

Taylor Wessing—Max Millington

Taylor Wessing—Max Millington

Banking and finance team welcomes partner in London

NEWS
Limited liability partnerships (LLPs) are reportedly in the firing line in Chancellor Rachel Reeves upcoming Autumn budget
The landmark Supreme Court’s decision in Johnson v FirstRand Bank Ltd—along with Rukhadze v Recovery Partners—redefine fiduciary duties in commercial fraud. Writing in NLJ this week, Mary Young of Kingsley Napley analyses the implications of the rulings
Barristers Ben Keith of 5 St Andrew’s Hill and Rhys Davies of Temple Garden Chambers use the arrest of Simon Leviev—the so-called Tinder Swindler—to explore the realities of Interpol red notices, in this week's NLJ
Mazur v Charles Russell Speechlys [2025] has upended assumptions about who may conduct litigation, warn Kevin Latham and Fraser Barnstaple of Kings Chambers in this week's NLJ. But is it as catastrophic as first feared?
Lord Sales has been appointed to become the Deputy President of the Supreme Court after Lord Hodge retires at the end of the year
back-to-top-scroll