Commentary

I1.115 Temporary estate duty

IHT, trusts and estates

I1.115 Temporary estate duty

I1.115 Temporary estate duty

Temporary estate duty was intended to apply only for seven years. It was imposed on affidavits and accounts delivered on or after 1 June 18891 and took the form of an extra 1% duty on property exceeding £10,000 on which probate or account duty was charged, and on successions exceeding that value.

This tax is of importance because it paved the way for the estate duty of 1894. In particular, by taxing only estates in excess of £10,000 it supported the idea of graduation, which now forms a central part of both inheritance tax and inheritance tax

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