What's Inheritance Tax in England?
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Hi :) I read in the newspaper that now David Cameron is Prime Minister, he's not going to cut Inheritance Tax, because the Liberal Democrats said he can't if he want them to get together. What's Inheritance Tax though? Thanks
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Answer:
Tax that is paid to the state when someone dies and leaves property and/or money. The tax is 40% of everything over £325,000 unless the beneficiary is a spouse (husband/wife/civil partner) in which case no tax is paid.
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