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| 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: 16:36, Mon, Jan 18, 2021
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Inheritance tax is levied at 40 percent on the parts of an estate valued over £325,000. The rules on IHT can be complicated but wills can ensure the correct amounts are paid where due but evidence has emerged that many are forgetting about their virtual assets when creating a will, which stretches from digital wallets to Facebook passwords.