Excepted Estate

Business, Legal & Accounting Glossary

Definition: Excepted Estate

Full Definition of Excepted Estate

An estate that is exempt from the requirement to supply accounts to the Inland Revenue. At the time of writing, the conditions which must be met for an estate to be excepted are:

  • the total value is less than 210,000, of which no more than 50,000 is held outside the UK,
  • estate is passed by Will, intestacy, nomination or survivorship, and
  • the deceased must have been domiciled in the UK, and
  • the deceased must have made no gifts that are subject to capital transfer tax or inheritance tax, or granted any Life interest in property.

Cite Term

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Page URL
Modern Language Association (MLA):
Excepted Estate. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 22, 2021 https://payrollheaven.com/define/excepted-estate/.
Chicago Manual of Style (CMS):
Excepted Estate. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/excepted-estate/ (accessed: September 22, 2021).
American Psychological Association (APA):
Excepted Estate. PayrollHeaven.com. Retrieved September 22, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/excepted-estate/

Definition Sources

Definitions for Excepted Estate are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 6th April, 2020 | 5 Views.