In this section:

Inheritance Tax thresholds

The Inheritance Tax threshold (or 'nil rate band') is the amount up to which an estate will have no Inheritance Tax to pay.

If the estate - including any assets held in trust and gifts made within seven years of death - is more than the threshold, Inheritance Tax will be due at 40 per cent on the amount over the nil rate band. From 6 April 2012 people who leave 10 per cent or more of their net estate to charity can choose to pay a reduced rate of Inheritance Tax of 36 per cent.

This page shows the different thresholds in use for deaths going back to 1914.

Inheritance Tax thresholds - present day back to 18 March 1986
From To Threshold/nil rate band
6 April 2009 5 April 2015 £325,000
6 April 2008 5 April 2009 £312,000
6 April 2007 5 April 2008 £300,000
6 April 2006 5 April 2007 £285,000
6 April 2005 5 April 2006 £275,000
6 April 2004 5 April 2005 £263,000
6 April 2003 5 April 2004 £255,000
6 April 2002 5 April 2003 £250,000
6 April 2001 5 April 2002 £242,000
6 April 2000 5 April 2001 £234,000
6 April 1999 5 April 2000 £231,000
6 April 1998 5 April 1999 £223,000
6 April 1997 5 April 1998 £215,000
6 April 1996 5 April 1997 £200,000
6 April 1995 5 April 1996 £154,000
10 March 1992 5 April 1995 £150,000
6 April 1991 9 March 1992 £140,000
6 April 1990 5 April 1991 £128,000
6 April 1989 5 April 1990 £118,000
15 March 1988 5 April 1989 £110,000
17 March 1987 14 March 1988 £90,000
18 March 1986 16 March 1987 £71,000
'Capital Transfer Tax' (Inheritance Tax thresholds) - 17 March 1986 back to 13 March 1975 for England, Wales, Scotland and Northern Ireland
From To Threshold/nil rate band
6 April 1985 17 March 1986 £67,000
13 March 1984 5 April 1985 £64,000
15 March 1983 12 March 1984 £60,000
9 March 1982 14 March 1983 £55,000
26 March 1980 8 March 1982 £50,000
27 October 1977 25 March 1980 £25,000
13 March 1975 26 October 1977 £15,000
'Estate Duty' (Inheritance Tax thresholds) - 12 March 1975 back to 16 August 1914 for England, Wales and Scotland
From To Threshold/nil rate band
22 March 1972 12 March 1975 £15,000
31 March 1971 21 March 1972 £12,500
16 April 1969 30 March 1971 £10,000
4 April 1963 15 April 1969 £5,000
9 April 1962 3 April 1963 £4,000
30 July 1954 8 April 1962 £3,000
10 April 1946 29 July 1954 £2,000
16 August 1914 9 April 1946 £100
'Estate Duty' (Inheritance Tax thresholds) - 12 March 1975 back to 16 August 1914 for Northern Ireland only
From To Threshold/nil rate band
22 March 1972 12 March 1975 £15,000
5 May 1971 21 March 1972 £12,500
4 June 1969 4 May 1971 £10,000
22 May 1963 3 June 1969 £5,000
4 July 1962 21 May 1963 £4,000
1 November 1954 3 July 1962 £3,000
29 August 1946 31 October 1954 £2,000
16 August 1914 28 August 1946 £100

More useful links

Find out which threshold to use for an excepted estate

Find out more about Inheritance Tax

Reducing your Inheritance Tax bill by giving to charity