A firm grasp on your inheritance
Article Abstract:
Inheritance tax is collected after someone dies and the tax rate is 40% on any amount over 215,000 pounds sterling. Gifts made within seven years of death and from which someone still received a benefit, such as property, are also included for inheritance tax purposes. They are discounted if the person lived for more than seven years afterwards. Property ownership in or out of the United Kingdom, savings and investments are all counted as part of an estate. Debts, gifts to charity or to a partner and funeral costs can be deducted.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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Rewarding long term investment
Article Abstract:
United Kingdom capital gains tax (CGT) offer taper relief rather than an indexation allowance, folloing changes introduced in April 1999. Indexation applies to assets acquired prior to the end of Mar 1999, while taper relief applies to those same assets after that date. The relief applies to gains, and is greater the longer the assets have been held, providing a reward for long-term investment. Investors should deduct losses and assess whether gains exceed their annual CGT allowance to calculate the amount of tax they owe.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
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