| UPDATED: 11:34, Tue, Mar 9, 2021
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Inheritance tax can be levied on the estate of someone who has died and is passing on their assets. IHT will usually be charged at 40 percent on estates valued higher than £325,000 but there will normally not be anything to pay if everything above the £325,000 threshold is left to a spouse, civil partner or a charity.
| UPDATED: 14:38, Wed, Jan 20, 2021
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Inheritance tax, CGT and other taxes may be radically overhauled in the coming months as Rishi Sunak is forced to address public spending. The Government has built up a huge debt to pay for the various coronavirus support measures and many are expecting the Chancellor to make announcements on this in the March budget.