England legend’s son forced to give up World Cup medal over £200k Inheritance Tax row

Inheritance Tax is a tax on the estate of someone who has died, with certain exemptions and allowances applying to the value of the estate. The tax is typically paid by the person inheriting the estate, and the rate of tax can be up to 40% on the value of the estate above a certain threshold. The World Cup medal in question is likely to be a valuable and unique item, potentially pushing the overall value of the estate above this threshold and triggering a significant tax liability.

England legend’s son forced to give up World Cup medal over £200k Inheritance Tax row