Meaning of “inheritance tax” in the English Dictionary


"inheritance tax" in Business English

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inheritance taxnoun [ C or U ]

uk us mainly UK abbreviation IHT, UK also death duty, US estate tax TAX, PROPERTY

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.
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(Definition of “inheritance tax” from the Cambridge Business English Dictionary © Cambridge University Press)

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