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Inheritance tax: HMRC update spouse & civil partner guidance - everything you need to know

| UPDATED: 11:34, Tue, Mar 9, 2021
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Inheritance tax can be levied on the estate of someone who has died and is passing on their assets. IHT will usually be charged at 40 percent on estates valued higher than £325,000 but there will normally not be anything to pay if everything above the £325,000 threshold is left to a spouse, civil partner or a charity. ....

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TV Licence: BBC fee and Inheritance Tax should be 'scrapped' by Rishi Sunak in Budget | Personal Finance | Finance

| UPDATED: 14:18, Tue, Mar 2, 2021
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TV licence payments must be met by more people going forward as free licences were removed for over 75s unless they are in receipt of Pension Credit. This was a move which created much controversy, leading to many calling for the fee to be scrapped. A similar stance is taken by some when it comes to Inheritance Tax, payable on the estate of someone who has passed away. ....

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Inheritance Tax could cause issues for Britons as reliance on inheritance soars | Personal Finance | Finance

| UPDATED: 14:03, Tue, Mar 2, 2021
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Inheritance tax is charged on a particular proportion of a person’s estate when they eventually pass away. It is likely to be the responsibility of those left behind to deal with the costs of the levy before they are able to receive an inheritance. But with an inheritance windfall being increasingly relied upon by many, Inheritance Tax and its rumoured changes, could present an issue. ....

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Inheritance tax: Digital assets being 'overlooked' - savers 'must' note Facebook passwords

| UPDATED: 16:36, Mon, Jan 18, 2021
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Inheritance tax is levied at 40 percent on the parts of an estate valued over £325,000. The rules on IHT can be complicated but wills can ensure the correct amounts are paid where due but evidence has emerged that many are forgetting about their virtual assets when creating a will, which stretches from digital wallets to Facebook passwords. ....

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Inheritance Tax UK: Britons feel 'disgusting' tax should be abolished as repayments soar | Personal Finance | Finance

“They may reflect changing asset values or exemptions and tax reliefs being allowed. The increase in the number of repayments could also reflect changes in HMRC administrative processes.”
But IHT can be complex, and it is important for Britons to understand how the tax system works.
Ms Neale added: “Broadly speaking, IHT is designed and administered so that where assets are realised by the executors within a reasonable period of death IHT is charged on the sale price, rather than the value at death.
“This is because for many asset classes, such as property, valuation is an art and not a science and their value is a matter of opinion and negotiation. ....

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