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Inheritance Tax Rates

Inheritance tax rates are levied by the government depending on the worth of the estate left behind by a deceased individual.  After debts, loans, mortgages and funeral expenses have been settled from the estate, the value of the remaining assets is assessed to see whether they are liable for taxation.  Inheritance tax is incurred across two bands of rates:

  • The nil rate band, currently set for assets of total worth up to £312,000.  No inheritance tax rates are levied on this band – in other words, the tax is at 0% on the first £300,000 of the estate.
  • The excess worth of the estate over the nil rate band, however, is burdened with a 40% tax rate.

Inheritance tax rates are an increasing problem in the UK as the tax threshold of the nil rate band advances more slowly than rapidly rising property values.  As a result, more UK residents are finding that part of their estate will be subject to inheritance tax rates after their death.

We have teamed up with the Inheritance Tax Advisory Service to provide you with access to expert financial consultants who can help you with inheritance tax rates and similar matters pertaining to your estate.  They are offering a free, no obligation initial consultation.  To benefit from this, just fill out the online enquiry form we provide and we will put you in touch.

Disclaimer: Every effort is made to keep the site accurate, however please bear in mind that tax rates are subject to change. If you require tax advice you should speak to a professional tax adviser.