publication . Article . 2007

Inheritance tax - an equitable tax no longer: time for abolition?

Lee, Natalie;
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  • Published: 04 Dec 2007 Journal: Legal Studies, volume 27, pages 678-708 (issn: 0261-3875, eissn: 1748-121X, Copyright policy)
  • Publisher: Cambridge University Press (CUP)
  • Country: United States
Abstract
<jats:p>Statistics from HM Revenue &amp; Customs predict that receipts from inheritance tax will amount to some £3.56 billion in the tax year 2006/07. This compares to £1.68 billion in 1997/98. This paper explores the reason for the large increase in inheritance tax revenues and, in the light of those findings, together with a consideration of the recent public reaction to the changes to the inheritance taxation of trusts announced in the Budget 2006 and incorporated in the Finance Act 2006, argues that, whereas the justification for a tax on the value of property in a person’s estate on death (or within a certain number of years before death) was rooted in equi...
Subjects
free text keywords: Law, Indirect tax, Ad valorem tax, Tax reform, Sociology, Direct tax, Tax avoidance, Inheritance tax, Double taxation, Value-added tax
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publication . Article . 2007

Inheritance tax - an equitable tax no longer: time for abolition?

Lee, Natalie;