Who can claim the IHT residence nil rate band
With the Residence Nil Rate Band (RNRB), families can pass on up to £1 million without IHT
The RNRB is an additional £175,000 Inheritance Tax (IHT) allowance that applies when a
Estate valuation for IHT purposes
Before probate begins, you must estimate the estate’s value to see if Inheritance Tax applies. This includes valuing the deceased person’s money, property and belongings in order
IHT Agricultural and Business Property Relief changes confirmed
Despite intense lobbying by the farming community, the proposed reduction in IHT Business and Agricultural Property reliefs are included in the draft Finance Bill 2025-26.
On 21
IHT Unused Pension Funds and Death Benefits changes
It was confirmed with the publication of the draft Finance Bill 2025-26 that measures first announced in the Autumn Budget 2024 to bring most unused pension funds and death
Current Inheritance Tax thresholds
Married couples can pass on up to £1 million tax-free if they plan their estates carefully.
The Inheritance Tax (IHT) nil-rate band is currently £325,000. This means there is
Double Tax Conventions and IHT
Double tax on estates can still hit families hard, even with treaties in place. When someone dies with ties to more than one country, their estate may face inheritance tax in both
Current IHT gift reliefs
Lifetime gifts can reduce Inheritance Tax, but survival for seven years and using key exemptions like the £3,000 annual allowance are crucial to making them fully tax-free.
Most
IHT exemption – normal expenditure out of income
Make regular gifts from your income and avoid inheritance tax. If structured properly, surplus income gifts can support loved ones and stay outside your estate without the
Changes to IHT from April 2025
From April 2025, Agricultural Property Relief from Inheritance Tax now extends to land under qualifying environmental agreements. This means landowners entering long-term
Probate waiting times halved
The Ministry of Justice (MOJ), together with HM Courts & Tribunals Service (HMCTS) and the Minister for Courts and Legal Services, has announced significant improvements in