Inheritance Tax Laws 2024. The temporary tax regulations set to take effect in 2024 bring forth substantial adjustments in how inheritance and estate taxes are treated, marking critical shifts that could impact your financial. Prepare well for yourself and your loved ones in case of incapacity and death.

For single people with no descendants*, inheritance tax is charged at 40% if their estate exceeds £325,000. An inheritance tax is paid by beneficiaries on inherited money or assets.