inheritance tax

American  

noun

1. a tax levied on the right of an heir to receive a decedent's property, the rate being a percentage of the value of the property.

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inheritance tax British  

noun

1. (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. (in the US) a state tax imposed on an inheritance according to its size and the relationship of the beneficiary to the deceased

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Etymology

Origin of inheritance tax

First recorded in 1835–45

Example Sentences

See Examples For:

inheritance tax

If you’re a surviving spouse — or, in certain cases, a child under 21 — you won’t owe any inheritance tax.

From MarketWatch ● Jul. 27, 2026

The surviving co-habiting partner would still have to pay inheritance tax of 40% for anything above £325,000 - married partners are exempt from this.

From BBC ● Jul. 4, 2026

Asked about those commitments during the by-election campaign, Burnham said he did not "resile" from his previous stance on inheritance tax.

From BBC ● Jun. 19, 2026

The second thing to note is that six U.S. states — Iowa, Kentucky, Maryland, Nebraska, New Jersey and Pennsylvania — levy a state inheritance tax.

From MarketWatch ● Jun. 17, 2026

The inheritance tax should have no terrors for the millionaire.

From Success (Second Edition) by Beaverbrook, Max Aitken, Baron

Related Words

• death tax
• estate tax