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Article: Don't tease the taxman; The richer you are when you die, the more you will probably owe the state - unless you follow some simple steps to avoid paying inheritance tax.
- Article from:
- The Evening Standard (London, England)
- Article date:
- February 15, 2002
- Author:
CopyrightCOPYRIGHT 2002 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JO THORNHILL
SHE was renowned for her expensive taste in fashion, jewellery and holiday homes, but the true extent of Princess Margaret's personal fortune remains a mystery. One thing, though, is certain - even royalty cannot escape the taxman. In bygone years, "death duty" was the cause of the break-up or dissolution of many fine old estates.
Inheritance tax (IHT), as it is more properly known, still hits the estates of about 30,000 more ordinary Britons each year.
In theory, the richer you are when you die, the more you owe the state - but there are ways around IHT which families take advantage of regularly.
Since Princess ...