Finance Bill 1987
Article Abstract:
Inheritance tax provisions of the United Kingdom's Finance Bill of 1987 are discussed. Rules regarding interests in possession have been changed. Reliefs for transfers of business and agricultural property have been changed. The Bill also gives the Inland Revenue authority to accept heritage property in lieu of inheritance tax on other property. Inheritance tax rules have been changed to include new personal pension plans.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1987
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Business and agricultural property
Article Abstract:
The United Kingdom's Finance Act of 1986 changed inheritance tax rules regarding business property and agricultural property relief. New and continuing rules for Potentially Exempt Transfers are described. The amount and the availability of tax relief depends on the circumstances of the donor at the time of a potentially exempt transfer or chargeable lifetime gift.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1987
User Contributions:
Comment about this article or add new information about this topic:
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