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), which is
Deaths (all dates inclusive) |
Threshold |
| 15 Mar 1988 to 5 Apr 1989 | £110,000 |
| 6 Apr 1989 to 5 Apr 1990 | £118,000 |
| 6 Apr 1990 to 5 Apr 1991 | £128,000 |
| 6 Apr 1991 to 9 Mar 1992 | £140,000 |
| 10 Mar 1992 to 5 Apr 1995 | £150,000 |
| 6 Apr 1995 to 5 Apr 1996 | £154,000 |
| 6 Apr 1996 to 5 Apr 1997 | £200,000 |
| 6 Apr 1997 to 5 Apr 1998 | £215,000 |
| 6 Apr 1998 to 5 Apr 1999 | £223,000 |
| 6 Apr 1999 to 5 Apr 2000 | £231,000 |
| 6 Apr 2000 to 5 Apr 2001 | £234,000 |
| 6 Apr 2001 to 5 Apr 2002 | £242,000 |
| 6 Apr 2002 to 5 Apr 2003 | £250,000 |
| 6 Apr 2003 to 5 Apr 2004 | £255,000 |
| 6 Apr 2004 to 5 Apr 2005 | £263,000 |
| 6 Apr 2005 to 5 Apr 2006 | £275,000 |
| 6 Apr 2006 to 5. Apr 2007- | £285,000 |
| 6 Apr 2007 to 5 Apr 2008 | £300,000 |
| 6 Apr 2008 to 5 Apr 2009 | £312,000 |
| 6 Apr 2009 to | £325,000 |
The same threshold applies for immediately chargeable transfers
(IHTM14530) 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.
