Inhertiance Tax

What is Inheritance Tax?

Politically, this is one of the most contentious of taxes. Also known as 'estate tax' this is a form of taxation imposed upon the transfer of assets and property of a deceased person to their relatives, friends or even an organization..

Some countries do not levy the tax against assets left to a spouse or charity, but many do.

Inheritance Tax Perspectives

Two sides of the arguement:

- Inheritance tax not a death tax, but simply a tax on a transfer of wealth

- Inheritance tax is double taxation: taxation on assets which have been taxed already (eg, via earned income).

There is a wealth of information on the internet about inheritance tax, for example at Inheritance Tax World.