What is the inheritance tax, whatsoever; I mean what does it include? I am not sure who’s supposed to be paying it the owner of the property or the one who’s inherited. I never was quite clear with this subject. I am 23 and till now I didn’t have to bother with those taxation stuff but I ran into some information and I would like to be clarified.
Inheritance tax is being paid for almost all the assets such as real estate, possessions, money and investments; broadly speaking it is paid on everything one owns at the time of death. Of course, there are some exemptions. First exemption is the fact that inheritance tax is paid by those whose assets value exceed £300,000 at the time of death.
