Money Saving Expert founder Martin Lewis provides a comprehensive explanation of inheritance tax and clarifies who is required to pay it.
Inheritance tax is a levy placed on assets such as property, money, and possessions of a person who has died.
In a video shared on X, formerly Twitter, Mr Lewis explained: "This is a tax there are so many misunderstandings about" before continuing: "Most people, when they die, their estates will not pay inheritance tax. This is primarily a tax that only affects the most affluent households." "That is a very large amount which covers what the vast majority of households in the UK are worth, hence why very few pay inheritance tax".
Inheritance Tax Levy Assets Property Money Possessions Discussion Reforms Rules Requirements Martin Lewis Tax Affluent Households
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