How are the inheritance tax rules changing?

Quick Summary:

Inheritance tax is again creating political debate so how does it work and who pays?

However, if someone gives a bigger sum, then dies within seven years, then the money may be used as part of inheritance tax calculations.

Inheritance tax must be paid by the end of the sixth month after the person's death, otherwise interest is charged too.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Worth Threshold Rules Changing External Inheritance Children Chancellor Estates Year Assets

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 14:13:20 (3 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.co.uk

Language: English

Article Length: 740 words

Reading Time: 5 minutes read

Sentences: 40 lines

Sentence Length: 19 words per sentence (average)

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Copyright Owner: © BBC Business

News ID: 23370567

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Official Website: bbc.co.uk

Year Established: 1922

Headquarters: United Kingdom

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