be liable

From April 2026, inherited agricultural assets worth more than £1m, which were previously exempt, will be liable to the tax at 20%, half the usual rate.

Walmart will be liable for millions of dollars in civil penalties and costs for allegedly dumping hazardous waste and sensitive customer records in California landfills, according to a stipulated judgment filed this week in Alameda County Superior Court.

However, economists at the Institute for Fiscal Studies think tank predict that about 7% of estates could be liable for inheritance tax by 2032, external, under current rules.

Many more people than this believe they could be liable.

So the estate of someone who can use their late partner's allowance, and leaves a home to their children or grandchildren, won't be liable for inheritance tax on anything under £1m.