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:
“As to honour—you know—it’s a very fine mediaeval inheritance which women never got hold of. It wasn’t theirs.”
—Joseph Conrad (1857–1924)
“As a Tax-Paying Citizen of the United States I am entitled to a voice in Governmental affairs.... Having paid this unlawful Tax under written Protest for forty years, I am entitled to receive from the Treasury of “Uncle Sam” the full amount of both Principal and Interest.”
—Susan Pecker Fowler (1823–1911)