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Importance Of Inheritance Tax Threshold In The UK

Inheritance tax is a tax levied in the United Kingdom and some other countries on the transfer of property, including money, between individuals.

The tax is imposed as a percentage of the value of the inheritance. The tax threshold is the amount at which inheritance tax becomes payable.You can also get more about inheritance tax threshold in the UK via https://expatwealthadviser.com/inheritance-tax-iht

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The inheritance tax threshold is a key part of the UK's taxation system, and what it means for individuals and their families can be quite complex. The threshold is the amount of money that an individual or their family cannot inherit without paying estate duty. 

The inheritance tax threshold has been raised several times throughout the years, mostly in response to changes in the value of property and assets. The current threshold is approx £325,000 per person, which means that only 5% of estates are liable to pay any inheritance tax. There are also exemptions available, so that particular types of property or money cannot be inherited tax-free. 

It's important to note that the Inheritance Tax Threshold isn't the only thing that affects how much money an individual can inherit. Other factors such as age, relationship status, and citizenship also play a role. If you're considering whether or not to leave your estate to your children, it's important to understand all of the aspects involved.