inheritance tax

noun [C or U] mainly UK (abbreviation IHT, UK also death duty, US estate tax) TAX, PROPERTY

Definition

› a tax paid on the value of the property, money, and other assets of someone who has died: If you are a UK resident, you are liable to inheritance tax on your assets worldwide. The proposals are intended to block inheritance tax avoidance schemes. to avoid/escape/reduce inheritance tax → See also death tax

(Definition of inheritance tax noun from the Cambridge Business English Dictionary © Cambridge University Press)

Focus on the pronunciation of inheritance tax