questionText: To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of planned changes to (a) income and (b) inheritance tax on people who inherit more than £1 million.
answerText: Inheritance tax is a wealth transfer tax charged on the estate (the property, money, and possessions) of someone who has died. In the latest available tax year (2021-22), 4.39% of all UK deaths were liable to inheritance tax. The tax liability is on the e...
heading: Income Tax and Inheritance Tax