Chat with us, powered by LiveChat
This website uses cookies. You consent to our cookies if you continue to use our website. More Details

Home Resource Centre Tax Tables Inheritance Tax

Tax Tables

Inheritance Tax

Nil Rate Band

2022/23

2021/22

2020/21

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

2022/23

2021/22

2020/21

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

2022/23

2021/22

2020/21

Annual exemption per year (unused exemtions can be carried forward)

£3,000

£3,000

£3,000

Small gift exemption per person

£250

£250

£250

Gifts on marriage/civil partnership

 

 

 

By a parent

£5,000

£5,000

£5,000

By a grandparent

£2,500

£2,500

£2,500

By any other person

£1,000

£1,000

£1,000

 

 

 

 

Reduced charge on gifts made within seven years of death - by years before death

2022/23

2021/22

2020/21

0-3 years

100%

100%

100%

3-4 years

80%

80%

80%

4-5 years

60%

60%

60%

5-6 years

40%

40%

40%

6-7 years

20%

20%

20%

© 2022