Inheritance Tax: How the bill could be paid and how it may fall on those inheriting assets

INHERITANCE TAX is the tax levied on a deceased person's estate that is being passed on. The estate itself will include property, possessions and money along with other assets. So long as the entirety of the estate is valued at less than £325,000 there will be no IHT to pay. However, how the tax is paid for those that qualify can vary.