Abstract
This paper will examine Estate Duty(ED) and its impact on the structure of smaller British businesses. ED was one of the most controversial and wide-ranging taxes ever imposed in the UK. It was the first substantive tax on capital. It was partly responsible for the reconfiguration of British business in the 1940s- 1950s as businesses sought to avoid the Duty with measures which could result in the loss of a family firm to the “corporate economy”. Examining this phenomenon adds a hitherto unexplored dimension to the arguments of business historians surrounding the structure of British business and its relative performance after World War II.
Original language | English |
---|---|
Number of pages | 23 |
Journal | Business History |
Early online date | 22 Mar 2021 |
DOIs | |
Publication status | E-pub ahead of print - 22 Mar 2021 |
Keywords
- estate duty
- death duties
- corporate economy
- business structure
- anticipatory action