capital transfer tax

A tax introduced into the UK in 1974 to replace estate duty and to deal with some of the anomalies arising from it. The legislation introduced tax on lifetime transfers of money and assets as well as on the estate on death. In March 1986 capital transfer tax was replaced by inheritance tax

Accounting dictionary. 2014.

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  • capital transfer tax — UK US noun [S or U] (ABBREVIATION CTT) ► TAX, PROPERTY in the UK, a tax paid on any property, money, and other assets that are given to someone. This tax was replaced by inheritance tax in 1986: »This gift was subject to capital transfer tax …   Financial and business terms

  • capital transfer tax — See inheritance tax. Collins dictionary of law. W. J. Stewart. 2001 …   Law dictionary

  • Capital Transfer Tax — An inheritance tax levied in the United Kingdom on estates exceeding a certain value. The Capital Transfer Tax replaced the general estate duty in 1975, and was itself replaced by the Inheritance Tax (IHT) in 1986. The amount of tax was derived… …   Investment dictionary

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  • transfer — A change of ownership from one person or party to another. Bloomberg Financial Dictionary On the London Stock Exchange, the form signed by the seller of a security authorising the company to remove his name from the register, and substitute that… …   Financial and business terms

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  • Tax compliance solutions — Tax compliance solution is a generic term used to describe the available softwares to perform tax compliance for income tax, corporate tax, VAT, service tax, customs, sales tax, use tax, etc. The solution automatically calculates your complete… …   Wikipedia

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  • Tax — Taxation An aspect of fiscal policy …   Wikipedia

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