Inheritance Tax (IHT) is a tax on the estate, such as money, property, and possessions, of someone who has died. IHT is often seen as significant, as it can substantially reduce the value that beneficiaries receive from an estate.
Inheritance Tax (IHT) is a tax introduced in the Budget of 1986, charged on the estate of a deceased individual domiciled in the UK or on UK property owned by a non-domiciled individual. It applies retrospectively on certain lifetime gifts and includes exemptions and potential allowances.
