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Who introduced inheritance tax in the UK? And when was the �263,000 threashold introduced?
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In the United Kingdom, Death Duty was first introduced as a tax on estates in England and Wales over a certain value from 1796, then called legacy, succession and estate duties. The value changed over time and the scope of estate duty was extended. By 1857 estates worth over �20 were taxable but duty was rarely collected on estates valued under �1500. Estate duty was replaced in 1975 by Capital Transfer Tax, which was replaced by Inheritance Tax (IHT) in 1986. The �263,000 limit was introduced on 6 April 2004.
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