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

In the past, Burnham has suggested changing inheritance tax to pay for social care reform, external, floating the idea of a 10% levy on all estates.

From BBC ● Jul. 17, 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

A handful of U.S. states do impose an inheritance tax on certain inherited assets, although most offer exemptions or reduced rates for close relatives like children.

From MarketWatch ● Jun. 16, 2026

Moreover, evasions of the inheritance tax are comparatively easy, and are likely to be adopted extensively by the holders of large estates.

From Rural Health and Welfare by Fairchild, George Thompson

Related Words

• death tax
• estate tax