About: Pre-owned asset tax

An Entity of Type: Abstraction100002137, from Named Graph: http://dbpedia.org, within Data Space: dbpedia.org

In the United Kingdom, Her Majesty's Revenue and Customs acted against certain inheritance tax (IHT) avoidance schemes by imposing a standalone income tax charge. The tax was introduced in the Finance Act 2004 and came into effect from 6 April 2005.

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dbo:abstract	In the United Kingdom, Her Majesty's Revenue and Customs acted against certain inheritance tax (IHT) avoidance schemes by imposing a standalone income tax charge. The tax was introduced in the Finance Act 2004 and came into effect from 6 April 2005. This has become known as pre-owned assets tax (POAT). POAT applies where an individual disposes of an asset but somehow retains the ability to use or enjoy it. POAT is never applicable when IHT is; therefore, the media and public have granted the issue little attention. POAT is also a retroactive tax: even if an action had no IHT repercussions at the time, POAT may be applied years after the action. (en)
dbo:wikiPageExternalLink	http://www.hmrc.gov.uk/poa/ https://web.archive.org/web/20090521153550/http:/www.telegraph.co.uk/property/propertyadvice/propertyclinic/5345211/Property-advice-Pre-Owned-Assets-Tax.html
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rdfs:comment	In the United Kingdom, Her Majesty's Revenue and Customs acted against certain inheritance tax (IHT) avoidance schemes by imposing a standalone income tax charge. The tax was introduced in the Finance Act 2004 and came into effect from 6 April 2005. (en)
rdfs:label	Pre-owned asset tax (en)
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