Definition of inheritance tax in English:

inheritance tax

noun

  • [mass noun] (in the UK) tax levied on property and money acquired by gift or inheritance (introduced in 1986 to replace capital transfer tax).

    estate tax
    and → death 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.’

Pronunciation:

inheritance tax

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