2017/18 Inheritance Tax

  2017-18 2016-17
Nil rate band £325,000 £325,000
For 2017-18, a further nil rate band of £100,000 may be available in relation to current or former residences. Nil rate bands of surviving spouses/civil partners may be increased by unused nil rate bands of deceased spouses/civil partners.

 

Rate of tax on balance:

  2017-18 2016-17
Chargeable lifetime transfers 20% 20%
* Transfers on, or within 7 years of, death 40% 40%

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