Tax

Inheritance tax

Tax

Inheritance Tax (IHT) is tax payable on the value of the estate of someone who’s passed away. The applicable tax rate is 40%.

There are various specific rules but no IHTis normally payable if the value of your estate is below £325,000 or if everything is inherited by one’s spouse or civil partner, or a charity.

Pensions are normally not subject to inheritance tax.

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