What is inheritance tax (IHT)? - A Which? guide

Figuring out what inheritance tax is and how it applies to you and your family can be complicated but this simple guide should help you understand the basics.

Watch the video then click the link to read our full guide on what inheritance tax is and how to deal with it.

[XbotLife]

This Tax is disgusting. I'll look for every way to legally avoid it. I expect to leave behind much more than the thresh hold and to think the Gov will want 40% of a large portion of it.

[usedtoilet]

The Royal family should pay it as well. They have pledged to pay taxes to rebuild Windsor castle with tax.

[zTorrentiaLzzz]

Why on earth do they have the right to be involved with a family member sharing with another family member?

[conbro]

40% nah how about 5% that’s my final offer.😂

[Matthew]

Legal money that has already been taxed being taxed 40% again ????

[bholasingh-yxuu]

i plan to leave uk since i come to know abut inheritance tax 40% ??? so your children and grand chidren will never get rich if you live in uk. it will be always working life. no saving.
but sadly very few people understands it in a this big and long picture

[rioshound]

Why is it 40% ? It's not logical!

[conorcoleman]

This Tax is designed to keep wealth off an individual.

Government don’t want a wealthy population. People associated with power are always associated with wealth. Money gives people more options and a larger network.

If every person received all their inheritance tax free then overtime that would create a wealthy family.

Imagine being in your 20’s having to pay no mortgage, that’s an addition 300k in your pocket.

An individual creating a home and paying huge amounts their whole lives to own the home.
To then one day pass on their their child, then inevitably the child has to pay back money on the same building.

Complete madness.

[nateh]

I wouldn't mind an inheritance tax if income taxes were lower. It makes more sense to tax what you inherit than to tax what you earn.

It also levels the playing field and helps to extinguish the aristocracy.

[Arkmor]

My state has no inheritance tax at all in the USA. Was just curious about the tax.

[solomit]

The inheritance is taking family assets that’s already taxed the threshold going to be freeze till 2026 what a con while house prices in London continue to increase

[samdeur]

Just watched the money masters. Tip ;-)

[NIENGUY]

What if you sell everything and just give it to your spouse or children before you die?

[yoyu]

Who said that taxes are only when you are alive

[markbenjamin]

Change the seven year rule to a 24hr rule, get rid of current allowances and allow any benefactor to get £5m tax free, and change the tax rate to 10%

[DrBased]

Bullshit, this is effectively stealing.

[ItsMeYeah]

Just wondering, is this the case for the super wealthy, like the multimillionaires and billionaires out there? If so, gee that's a lot of tax

[abhiu]

Coming on third world country. This is one of theways to cut down on accumulation of wealth and fill in economic gap. Maybe not good for Uk but in my place this will make wonders.

[brianshefford]

Hmrc have really thought this inheritance through in there favour by putting up barriers for people like the seven year rule incase people try and give away there loot.Or how hmrc give one allowance to the deceased rather yhan one allowance to yhe people who receive the inheritance .crafty hmrc😂

[creative-renaissance]

Inheritance tax is nothing more than legalised serfdom!!!