Inheritance Tax (United Kingdom)
In the United Kingdom, Inheritance Tax is a transfer tax. It was introduced with effect from 18 March 1986 replacing Capital Transfer Tax.
Read more about Inheritance Tax (United Kingdom): History, Nil Rate Band Thresholds - Transferable To Surviving Spouse(s), Tax Estate, Deductions, Minimising IHT, Nil-rate Band, Pre-owned Assets, Controversy
Other articles related to "inheritance":
... InheritanceTax is an emotive tax which seems to be widely disliked by the general public as it comes at the time of loss and mourning ... Inheritancetax for most people is a tax-on-tax,in that wealth such as personal savings and property would have been built up from personal income already subject to income tax ... In 2002 The Queen Mother is understood to have left her entire estate estimated at £50 million to her daughter Elizabeth II,including works of art,jewels,antiques and her ...
Famous quotes containing the words tax and/or inheritance:
“People buy their necessities in shops and have to pay dearly for them because they have to assist in paying for what is also on sale there but only rarely finds purchasers: the luxury and amusement goods. So it is that luxury continually imposes a tax on the simple people who have to do without it.”
—Friedrich Nietzsche (18441900)
“It is very difficult to be wholly joyous or wholly sad on this earth. The comic, when it is human, soon takes upon itself a face of pain; and some of our griefs ... have their source in weaknesses which must be recognized with smiling compassion as the common inheritance of us all.”
—Joseph Conrad (18571924)