Inheritance Tax

[sire]

Is Inheritance Tax charged on the full amount of say �300,00 or just the balance over & above the tax free allowance

Thanks in advance

[Buenchico]

IHT is only charged on the amount above the threshold. (In your example of an estate of �300,000, and with the current threshold of �275,000, IHT would be 40% of �25,000 =�10,000).
http://www.hmrc.gov.uk/cto/customerguide/page2.htm

Chris