zlacker

>>fortra+(OP)
> The exemption was restricted over time to largely benefit foreigners who don’t expect to live in the U.K. permanently.

Sounds like it worked out as planned, since they're leaving now.

Plus, 40% inheritance tax is crazy. You'd have to sell off half of what you inherit to pay the tax. Sucks if you're a farmer or a multigenerational family business

>>comrad+T1
The 40% only applies to the portion of the estate that exceeds the tax-free threshold, which is currently £325K. If you leave your home to your children or grandchildren, that can be raised to £500K, and if you leave it to your spouse, it increases to £650K.

There are also ways to reduce the tax rate, like through charitable donations.

Like in the US with estate taxes, relatively few people are affected by it.