An inheritance tax is a tax which has to be paid on the money and property of someone who has died.
inheritance tax in British English
noun
1.
(in Britain) a tax introduced in 1986 to replace capital transfer tax, consisting of a percentage levied on that part of an inheritance exceeding a specified allowance, and scaled charges on gifts made within seven years of death
2.
(in the US) a state tax imposed on an inheritance according to its size and the relationship of the beneficiary to the deceased
inheritance tax in American English
a tax levied by the state upon the right of a beneficiary to receive the property of a deceased person
Examples of 'inheritance tax' in a sentence
inheritance tax
A possible tightening of some of the reliefs on inheritance tax?
Times, Sunday Times (2016)
Why did he take part in what amounted to an inheritance tax avoidance scheme?
The Sun (2016)
They would be able to pass on the money without paying inheritance tax on it.
Times, Sunday Times (2015)
There is no inheritance tax or capital gains tax.
Times, Sunday Times (2009)
Can enter to value property for inheritance tax.
Times, Sunday Times (2007)
Today there is no marriage tax allowance and inheritance tax is going up.
Times, Sunday Times (2013)
Not only will it speed up payments but it can shield the money from inheritance tax.
Times, Sunday Times (2012)
That means low income tax and no capital gains or inheritance tax.
Times, Sunday Times (2015)
They can also transfer any unused element of their inheritance tax allowance upon death.
Times, Sunday Times (2008)
There should be a policy for an equal inheritance tax main home allowance per person.
Times, Sunday Times (2015)
They can also transfer any unused element of their inheritance tax allowance.
Times, Sunday Times (2010)
Anyone who has paid inheritance tax on a property that meets these criteria could also receive a portion of it back.
Times, Sunday Times (2009)
No capital gains or inheritance tax.
Times, Sunday Times (2011)
It's part of my inheritance tax planning.
Times, Sunday Times (2012)
Do we still qualify for 100% relief from inheritance tax for the farmhouse?
Times, Sunday Times (2006)
Business property relief also provides 100% relief against inheritance tax after two years.
Times, Sunday Times (2010)
They can find no intellectual justification for raising the inheritance tax threshold for property alone to 1m.
Times, Sunday Times (2015)
Do not overlook inheritance tax allowances, either.
Times, Sunday Times (2012)
You have to wonder how much money freezing the inheritance tax threshold is going to raise for the Government.
Times, Sunday Times (2013)
Holding a property in an overseas business paves the way for its owner to avoid stamp duty, inheritance tax and capital gains tax.
Times, Sunday Times (2012)
I like the inheritance tax relief on houses up to a 1million but that only reinforces your core audience.
The Sun (2015)
It found justification for a better wealth transfer tax, including lifetime transfers, to replace inheritance tax.
Times, Sunday Times (2012)
It also suggested that inheritance tax could be replaced by a tax on lifetime receipts and that VAT should cover nearly all spending.