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Inheritance Tax
Tax Tables
Inheritance Tax
Nil rate bands |
2025/26 |
2024/25 |
2023/24 |
|
| Threshold | 0% | £325,000 | £325,000 | £325,000 |
| Residence | 0% | £175,000 | £175,000 | £175,000 |
| Residence nil rate band threshold | £2,000,000 | £2,000,000 | £2,000,000 | |
Rates |
2025/26 |
2024/25 |
2023/24 |
|
| Lifetime rate | 20% | 20% | 20% | |
| Death rate | 40% | 40% | 40% | |
| Death rate where more than 10% of estate is left to charity | 36% | 36% | 36% | |
Lifetime exemption for gifts of non-business assets |
2025/26 |
2024/25 |
2023/24 |
|
| Annual exemption per year (unused exemptions can be carried forward on year) | £3,000 | £3,000 | £3,000 | |
| Small gift exemption per person | £250 | £250 | £250 | |
Gifts on marriage/civil partnership |
||||
| By parent | £5,000 | £5,000 | £5,000 | |
| By grandparent | £2,500 | £2,500 | £2,500 | |
| By others | £1,000 | £1,000 | £1,000 | |
Relief on gifts made within seven years of death - by years before death |
2025/26 |
2024/25 |
2023/24 |
|
| 0 - 3 years | 0% | 0% | 0% | |
| 3 - 4 years | 20% | 20% | 20% | |
| 4 - 5 years | 40% | 40% | 40% | |
| 5 - 6 years | 60% | 60% | 60% | |
| 6 - 7 years | 80% | 80% | 80% | |
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