My aunt owned her main residence worth £400,000 and two rental properties worth £200,000 each. 
She died in 2025, leaving everything to me, her niece. She made no significant gifts in her last seven years. Will I have to pay any taxes, and will this be subject to inheritance tax (IHT)? 

Arthur Weller replies:  

Very superficially, her estate was £800,000 and she had an IHT nil-rate band of £325,000, so her taxable estate was £475,000. At 40%, the IHT for you to pay is £190,000. But check (a) whether she had any liabilities when she died (e.g., mortgages); and (b) whether she had a spouse who predeceased her from whom she inherited any of their IHT nil-rate band. You could do a variation of the will and leave 10% of the estate to a registered charity. This would result in the remainder of the estate being taxed at an IHT rate of 36%, instead of 40%.