Column: Latest inheritance tax advice has the ring of a terrible idea

We all secretly think we’re one lucky scratch card away from being in that top stratum of rich people.

It’s not liked by those who want a low tax economy. They argue that if the sugar tax is meant to put you off sugar then income tax is a disincentive to work.

By that logic, inheritance tax should put people off dying and we already struggle with an ageing population. So, it’s a worry.

People like to find ways around tax but it was still a surprise when I read of the latest advice. You can marry your mother-in-law to get the money, without paying the death duty.

The idea is that if you divorce your wife and marry her elderly mother, on her passing you get the estate completely. There is no inheritance to pay when leaving things to your spouse. Then you can gift the money to your ex-wife and any children. As long as you live for another seven years the money is tax free.

If I suggest marrying my wife’s mother, I don’t think I’d survive the day, let alone seven years.

This is a terrible idea. Even suggesting it will cause problems. If your partner sits you down with her mother and brings up the idea, there’s no response to give that won’t cause upset.

If you’re too keen you’re in trouble with your wife. If you say, “It’s OK. I’d rather pay thousands than marry your mum,” you’re also in trouble.

While this plan only takes a few sentences to explain, it would take years to execute. You have to be married to your mother-in-law for as long as she lives.

You’ll have wedding anniversaries. I know you don’t have to keep the spark alive but you will have to be civil. If she wants a divorce the whole thing was for nothing.

You will also have to live through some Christmases and your ex-wife is now your daughter-in-law, so you’d still have to buy gifts. You don’t even make that saving.

It could also be frowned upon, making your way through a family like a dominant gene.

It might be better to just pay what you owe.