From Longman Dictionary of Contemporary Englishinheritance taxinˈheritance ˌtax noun [uncountable] PETa tax that you have to pay when you receive money or property from someone who has died
Examples from the Corpus
inheritance tax• Inheritance tax Generally, the residence of a trust is not important for inheritance tax.• Also, where there is property located outside the United Kingdom, no inheritance tax will be payable.• Property left to a surviving spouse remains, as before, free of inheritance tax.• At present, the first £128,000 of any estate is free of inheritance tax.• As this is over the inheritance tax threshold, it would bring a tax bill of £4,800.• Thus inheritance tax is concerned with gratuitous transactions. 5.From Longman Business Dictionaryinheritance taxinˈheritance tax [countable, uncountable]TAX another name for ESTATE TAXWorks of art that are able to be viewed by the public are not subject to inheritance tax. → tax 