2018/19 Inheritance Tax

  2018-19 2017-18
Nil rate band £325,000 £325,000

A further nil rate band of £125,000 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:

  2018-19 2017-18
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.