The History of Inheritance Tax

The earliest form of what could be considered Inheritance tax was first recorded in 1694. “Probate Duty” was introduced in the Stamps Act 1694 as a way to help continue financing England’s involvement in the “Nine Years War” also known as “the War of the League of Augsburg” which had started in 1688. Probate Duty was charged at a fixed duty of 5 Shillings on an estate worth more than £20 and was applied for all personal estates where there was probate of wills or letters of administration. Probate duty remained the same for 86 years until 1780 when Lord … Continue reading The History of Inheritance Tax