IHTM30171 - Tax payable on taking out of grant: Inheritance tax rates
For events occurring on or after 15 March 1988 tax is charged at 40% on amounts above the threshold (i.e. the upper limit of the nil rate band).
The same threshold applies for immediately chargeable transfers (IHTM14531) taxed at half death rates (20%).
Prior to 15 March 1988 Inheritance Tax and, before 18 March 1986 its predecessor Capital Transfer Tax, was charged at a graduated scale of rates.
Details of the relevant thresholds that have applied since 18 March 1986 can be found on 伊人直播. The thresholds for earlier periods can also be found there.
The amount of the nil rate band may be increased by as much as 100% if Transferable Nil Rate Band (TNRB) can be claimed where a surviving spouse or civil partner dies on or after 9 October 2007 (IHTM43001).
For deaths on or after 6 April 2017 an additional Residence Nil Rate Band (RNRB) may also be available (IHTM46001). This can only be used against the death estate.
For deaths on or after 6 April 2012, a reduced rate of tax on the death estate applies where at least 10% of a person鈥檚 net estate is left to charity (IHTM45001).