2015/16 Inheritance Tax

  2016-17 2015-16
Standard threshold £325,000 £325,000
Combined threshold maximum for married couples and civil partners £650,000 £650,000
Rate of tax on balance: Chargeable lifetime transfers 20% 20%
Rate of tax on balance: Transfers on, or within 7 years of, death* 40% 40%

* Subject to a tapered reduction for transfers between 7 and 3 years before death.

Exemptions may be available; please contact us for relevant information and advice.