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inheritance tax
(redirected from IHT)

   Also found in: Financial, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
inheritance tax
n.
A tax imposed on the privilege of receiving property by inheritance or legal succession and assessed on the value of the property received. Also called death tax.

inheritance tax
n
1. (Government, Politics & Diplomacy) (in Britain) a tax introduced in 1986 to replace capital transfer tax, consisting of a percentage levied on that part of an inheritance exceeding a specified allowance, and scaled charges on gifts made within seven years of death
2. (Government, Politics & Diplomacy) (in the US) a state tax imposed on an inheritance according to its size and the relationship of the beneficiary to the deceased
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.inheritance tax - a tax on the estate of the deceased person
transfer tax - any tax levied on the passing of title to property


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Since IHT contributes pounds 3 billion per year to the nation's finances, no one expects this tax to disappear in the foreseeable future.
To ensure your heirs don't have to share their inheritance with the taxman, consult an accountant who specialises in IHT planning.
Each section has been reshaped with cleaner layouts emphasizing bolder treatments of photos and section headings, said a note to readers by IHT editor Martin Gottlieb.
 
 
 
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