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UID:1db0596f0878ae0ab1e64ec477bb61a0
CATEGORIES:Seminars
CREATED:20251112T112140
SUMMARY:Lunch Seminar: Yonatan Berman - King's College London
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nDeath and Taxes: Inheritance Tax Planning and Unexpected Mortality"&nbs
 p; with Jeanne Bomare and Ignacio Orueta\nWe use unexpected deaths dur
 ing the first wave of the COVID-19 pandemic as a natural experiment to meas
 ure the extent of inheritance tax planning in the United Kingdom. Because t
 ax-planning strategies require time and foresight, the pandemic created an 
 exogenous shock that limited opportunities to plan before death. Using admi
 nistrative inheritance tax returns linked to mortality data, we compare est
 ates of decedents who died unexpectedly during the pandemic with those who 
 died in preceding years. We find that estates associated with unexpected de
 aths are significantly larger and face higher tax liabilities, indicating t
 hat prior planning substantially reduces reported wealth at death. Our evid
 ence suggests that inter-vivos transfers, rather than estate restructuring,
  are the primary mechanism of tax planning. We estimate that inheritance ta
 x planning reduces effective tax liabilities by approximately 50 percent, c
 orresponding to £3-4.5 billion in forgone annual revenue. These findings hi
 ghlight the importance of anticipatory wealth transfers in shaping inherita
 nce-tax outcomes and carry implications for the design of wealth tax policy
 .\n
DTSTAMP:20260409T015605Z
DTSTART:20260226T130000Z
DTEND:20260226T140000Z
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TRANSP:OPAQUE
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