INHERITANCE TAX
24/03/2009
The statutory provisions for Inheritance Tax (IHT) are contained in the Inheritance Tax Act 1984 [IHTA 1984] and subsequent Finance Acts [FA]. Its predecessor was called Capital Transfer Tax (CTT) and before that we had Estate Duty.
It may be charged on certain lifetime gifts (gifts into any trust apart from those for a disabled person); certain transfers into and out of trusts and on the value at the date of death of the estate of the deceased.
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