The present Estate Duty was imposed by the Finance Act, 1894, in place of other previously existing Death Duties, and is payable on all property (with a few exceptions), real or personal, settled or unsettled, which passes on a death after 1st August, 1894.

Under Section 8 (3) the Executor shall specify all the property in respect of which Estate Duty is payable, and shall be accountable for the Estate Duty in respect of all personal property of which the deceased was competent to dispose.

Under Section 8 (4), where the Executor is not accountable, every Trustee, Guardian, Committee, or other person in whom any interest in the property or the management thereof is at any time vested, shall be accountable for the Estate Duty.