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INHERITANCE TAX: AN OVERVIEW-II

By Harshal

(…cont.)
How to do valuation of estate for Inheritance Tax?
There are three steps which should be followed while carrying out valuation. They are as follows:
1) Take the value of all of the assets that they own, together with the value of their share of any assets that they own jointly with someone else: for example [...]

INHERITANCE TAX: AN OVERVIEW-I

By Harshal

Quick stats
£3.8bn Amount raised from UK inheritance tax in 2007 (source: HMRC)
£1.9bn Unnecessary amount of inheritance tax paid each year by UK taxpayers because of poor planning, according to research conducted by Unbiased.
44,000 Number of estates that actually paid inheritance tax in 2007-08, according to HMRC.

What is inheritance tax?
Inheritance Tax is the tax that is [...]

UK TO NATIONALISE BANKS

By Harshal

The failure of US financial market has created a havoc in all countries. The most affected countries are US and European countries. In an attempt to save the major financial industry the US outline for $ 700 bn bailout deal. Just like US government saved AIG, UK government has decided to nationalize the troubled banks. [...]