Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the current Inheritance Tax Nil-Rate Band Threshold?

April 26, 2017band inheritance tax nil-rate threshold

0

Posted

What is the current Inheritance Tax Nil-Rate Band Threshold?

1 Answer

0

Posted

In October 2007, the individual inheritance tax (“IHT”) nil rate band rose to £300,000. It will further rise to £350,000 in 2010. At the same time, it was announced that the nil rate band would be transferable between spouses or civil partners (which is extended to all widows, widowers and bereaved civil partners). Therefore couples can now pass on assets of £600,000 without IHT becoming payable.