Estate Duty Glossary

Key requirements

Domicile concerns permanent residence and can require legal analysis; nationality alone is not its definition. An executor is appointed under a will, while an administrator manages an estate without that appointment. A grant of probate authorises named executors; letters of administration authorise administration under the applicable law. Listed and private shares have different valuation contexts. The page describes its net-asset method, including a specified goodwill component. These terms help read legacy records, but estate duty itself was removed for deaths on or after 15 February 2008. Court administration and estate income-tax duties can remain relevant separately.