Definition of inheritance tax in English:
(In the UK) tax levied on property and money acquired by gift or inheritance (introduced in 1986 to replace capital transfer tax).
- Some jurisdictions do not have an actual estate or inheritance tax but still levy tax when a death occurs.
- If inheritance tax is to be levied at all, very generous financial thresholds must be put in place.
- More of them than ever before have been swept into higher tax rates, inheritance tax and stamp duty.
Definition of inheritance tax in:
- US English dictionary