What is Inheritance Tax, and what % is it at the moment?

Question

What is Inheritance Tax, and what % is it at the moment?

Answer 1

it's about 40%.

good luck

Answer 2

When you die your estate is valued. basically everything you own.There is a tax free allowance which I think is £320k. The rest is taxable at 40%. However if there is a surviving spouse, the matrimonial home passes to him/her free of IHT. Also some other assets are free of IHT (like shares quoted on AIM). Any unused allowance passes onto the surviving spouse, so a married couple effectively have £640k.  

Answer 3

http://www.direct.gov.uk/en/MoneyTaxAndB...