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EXAMPLES FROM CORPUS
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Inheritance tax Generally, the residence of a trust is not important for inheritance tax.
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Also, where there is property located outside the United Kingdom, no inheritance tax will be payable.
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As this is over the inheritance tax threshold, it would bring a tax bill of £4,800.
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At present, the first £128,000 of any estate is free of inheritance tax .
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Property left to a surviving spouse remains, as before, free of inheritance tax .
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Thus inheritance tax is concerned with gratuitous transactions. 5.