what are the estate tax rates for 2018
Estate tax in the United States If an asset is left to a spouse or a federally recognized charity, the tax usually does not apply. In addition, a maximum amount, varying year by year, can be given by an individual, before and/or upon their death, without incurring federal gift or estate taxes:[3] $5,340,000 for estates of persons dying in 2014[4] and 2015,[5] $5,450,000 (effectively $10.90 million per married couple, assuming the deceased spouse did not leave assets to the surviving spouse) for estates of persons dying in 2016.[6] Because of these exemptions, it is estimated that only the largest 0.2% of estates in the U.S. will pay the tax.[7] For 2017, the exemption increases to $5.5 million. In 2018, the exemption will double to $11.18 million per taxpayer due to the Tax Cuts and Jobs Act of 2017.
Value-added tax in the United Kingdom Value-added tax[1] or value added tax[2] (VAT) is a consumption tax levied in the United Kingdom by the national government. It was introduced in 1973 and is the third-largest source of government revenue, after income tax and National Insurance. It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994.