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Inheritance tax is a levy placed on the property, money and possessions of a person who has passed away, the level of inheritance tax depends on the:
It's possible to legally reduce the amount of inheritance tax due on your property and possessions when passing on your estate, so your family, friends or other beneficiaries can receive more of what you've worked hard to build.
You should look to take advice or speak to someone before implementing any major changes to your finances or assets to mitigate the tax-burden.
Take a look at our inheritance tax planning page and find out how expert advice could help you.
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Schroders Personal Wealth is a trading name of Scottish Widows Schroder Personal Wealth Limited.