An Outline of the Legislation: The History, Purposes and Features of Estate and Gift Duties

Abstract

In this chapter, the author canvasses the history of estate and gift duties law before identifying the purposes of the duties as instruments of social and economic policy. The chapter next examines aspects of the duties in more detail, including when and how the duties are charged, certain exemptions from the duties, and how the duties are valued and administered under the Estate and Gift Duties Act of 1968.

Keywords: estate duty, gift duty, Estate and Gift Duties Act of 1968

JEL Classification: H20, H24, K34