English version

inheritance tax in Tax topic

From Longman Dictionary of Contemporary Englishinheritance taxinˈheritance ˌtax noun [uncountable]  PETa tax that you have to pay when you receive money or property from someone who has died
Examples from the Corpus
inheritance taxInheritance tax Generally, the residence of a trust is not important for inheritance tax.Also, where there is property located outside the United Kingdom, no inheritance tax will be payable.Property left to a surviving spouse remains, as before, free of inheritance tax.At present, the first £128,000 of any estate is free of inheritance tax.As this is over the inheritance tax threshold, it would bring a tax bill of £4,800.Thus inheritance tax is concerned with gratuitous transactions. 5.