Inheritance TaxPublished 27/07/2014Inheritance Tax (IHT) is due when a person’s estate (their property and possessions) is worth more than £325,000 when they die. This is called the ‘IHT threshold’.
The current rate of IHT is 40% on anything above the threshold. The rate may be reduced to 36% if more than 10% of the estate is left to charity.
Who pays Inheritance Tax
Usually the executor or personal representative for the person who has died pays IHT using