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
Famous quotes containing the words inheritance and/or tax:
“Every third year you shall bring out the full tithe of your produce for that year, and store it within your towns; the Levites, because they have no allotment or inheritance with you, as well as the resident aliens, the orphans, and the widows in your towns, may come and eat their fill so that the LORD your God may bless you in all the work that you undertake.”
—Bible: Hebrew, Deuteronomy 14:28,29.
“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 (1844–1900)