Nil rate band

The nil-rate band is the value of an estate that is not subject to Inheritance Tax in the United Kingdom. Chargeable lifetime transfers and the chargeable estate on death above this amount are liable for IHT.

Historical Rates

2009-16 £325,000 (s4 Finance Act 2007)
2008-09 £312,000 (s155 Finance Act 2006)
2007-08 £300,000 (s98 Finance Act 2005)
2006-07 £285,000

NOTE: The £350,000 stated in the s4 Finance Act 2007 never came into force.

References

https://www.gov.uk/government/publications/rates-and-allowances-inheritance-tax-thresholds/inheritance-tax-thresholds

See also

Inheritance Tax (United Kingdom)

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