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

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Example Sentences

See Examples For:

inheritance tax

She told the Conservatives' annual conference that "nobody will ever pay inheritance tax on their family home" and couples will be able to leave an additional £1m tax free.

From BBC ● Oct. 7, 2026

Under the current system, inheritance tax of 40% is paid when someone's estate - the total value of their money and property exceeds £325,000.

From BBC ● Oct. 7, 2026

Turkey in June introduced a 20-year tax exemption on certain foreign-sourced income for new residents and a reduced inheritance tax.

From The Wall Street Journal ● Sep. 4, 2026

Orlanda ranked first, driven in part by the tax-friendly status of the city and the state, which does not have a state income tax, an estate tax or inheritance tax, Lupo said.

From MarketWatch ● Aug. 31, 2026

A statute therefore imposing a higher inheritance tax on property passing to a non-resident alien than on his property if he resided here is valid.

From Putnam's Handy Law Book for the Layman by Albert Sidney Bolles

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Related Words

• death tax
• estate tax

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