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05 Mar 2001
Estates with a value exceeding the threshold will be taxed at a flat rate of 40%, with the Treasury estimating this number at 23,000 for 2001/02, or 4% of all deaths.
In the 2000/01 tax year, roughly the same number of heirs paid an estimated Pounds 2bn on their inheritances.
Inheritance tax has come under criticism from a number of organisations, such as the Chartered Institute for Taxation, which says the way it is calculated is unfair, given the continued rise in property prices.
All wealth, including houses and gifts, inherited from a deceased person is subject to inheritance tax if it exceeds the threshold unless it inherited from a wife or husband, in which case it is exempt.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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