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In the UK, inheritance tax (IHT) applies to the value of a person's estate when they die, including assets abroad. However, the tax liability can depend on various factors, such as the relationship between the deceased and the beneficiary, the value of the estate, and whether it's domiciled in the UK. Martin Lewis and Golding Board Certified in Tax provide insights on IHT rules and rates for 2024, busting common myths and explaining how it really works.

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