Slovakia > UK and Ireland impose highest taxes on inheritance of all major economies
UK and Ireland impose highest taxes on inheritance of all major economies
25 April 2014
UHY press release
‘Old’ world economies charge higher inheritance and estate taxes than the ‘new’ world
Stealth taxes make passing on a family home more expensive than handing on a cash sum
The UK and Ireland take the highest proportion of inheritance or estate taxes of any major world economies, according to a new study by UHY, the international accountancy network.
Ireland would typically take 26%, and the UK 25.8% from the estate of an individual passing on an estate worth US$3m* to their heirs, well above the global average of 7.67%. For UK individuals that have never been married, the amount of inheritance tax taken from their estate would be even higher at 32.9%.
