inheritance tax
noun

tax payable on wealth or property worth above a certain amount and inherited after the death of someone. The current threshold is £285,000, and the estate is liable for 40 per cent tax on the excess amount.

Abbreviation IHT
Also called death duty
Browse by Subjects
business property relief
death tax
Inland Revenue
estate duty
IHT
See All Related Terms »

inverted yield curve
Organisation for Economic Co-operation and Development
floor
covered margin
NI