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Inheritance Tax
Inheritance tax is a tax that is paid on the value of an individual's estate after they pass away. The estate includes all the assets that the individual owned, including property, money, and possessions. In the UK, inheritance tax is paid by the executor of the estate, who is responsible for ensuring that the tax is paid and the estate is distributed according to the deceased's wishes.
It is important to note that inheritance tax can be a complex area of law, and it is recommended that individuals seek professional advice to ensure that their estate is structured in a tax-efficient way.
