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Inheritance Tax: An Overview

Inheritance tax (IHT) is charged on chargeable transfers made by an individual during their life and on the value of their estate on death. 

Tax is charged at 40% on death and at 20% on lifetime chargeable transfers to the extent that a person's estate or the lifetime transfer exceeds the nil-rate band. There are various reliefs and exemptions available which can reduce the overall amount of IHT due.

Please click here (PDF) to read more.

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