Inheritance Tax
The Act also introduced an income tax regime known as pre-owned asset tax which aims to reduce the use of common methods of inheritance tax avoidance.
Read more about this topic: Finance Act 2004
Famous quotes containing the words inheritance and/or tax:
“Late in the afternoon we passed a man on the shore fishing with a long birch pole.... The characteristics and pursuits of various ages and races of men are always existing in epitome in every neighborhood. The pleasures of my earliest youth have become the inheritance of other men. This man is still a fisher, and belongs to an era in which I myself have lived.”
—Henry David Thoreau (1817–1862)
“If you tax too high, the revenue will yield nothing.”
—Ralph Waldo Emerson (1803–1882)