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[mass noun] (in the UK) tax levied on property and money acquired by gift or inheritance (introduced in 1986 to replace capital transfer tax).
- ‘In most other countries, inheritance tax is levied, which has long been a lever to modulate the income gap.’
- ‘An inheritance tax is always imposed on beneficiaries when the deceased owns property or assets in Spain.’
- ‘The rich have got off too lightly with reductions in capital gains tax and inheritance tax.’
- ‘Capital gains tax and inheritance tax can be avoided on works of art of national importance if they are available for the public to view.’
- ‘Depending on who inherits the money after your death, there may be income or inheritance tax to be paid on the proceeds.’
- ‘More of them than ever before have been swept into higher tax rates, inheritance tax and stamp duty.’
- ‘These gifts are free of inheritance tax providing the individual survives seven years from the date of making the gift.’
- ‘This enables them to avoid draconian British inheritance tax levies in favour of lower Irish rates.’
- ‘But even if you don't want to part with major items you can make various small gifts free from inheritance tax annually.’
- ‘You recently mentioned the annual gift exemptions for inheritance tax.’
- ‘Some jurisdictions do not have an actual estate or inheritance tax but still levy tax when a death occurs.’
- ‘If inheritance tax is to be levied at all, very generous financial thresholds must be put in place.’
- ‘You could be liable to Irish inheritance tax and a similar tax in your new country of residence.’
- ‘Most people know that you can gift £3,000 a year without inheritance tax applying at all.’
- ‘There are no annual property rates or taxes on the islands and inheritance tax was abolished in 1992.’
- ‘Most gifts are exempt from inheritance tax as long as they are made to individuals more than seven years before your death.’
- ‘The government announced last summer that work was under way to allow inheritance tax to be paid out of an estate before probate was granted.’
- ‘The same applies to inheritance tax and stamp duty, both of which are payable on the basis of the house price.’
- ‘Only the spouse of the person who has died can inherit without incurring inheritance tax.’
- ‘The problem with inheritance tax is that the government isn't taxing the dead, its taxing the bereaved.’
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