Death duty UK

By:
Updated: Aug 20, 2021

Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who’s died.

There’s normally no Inheritance Tax to pay if either:

the value of your estate is below the £325,000 threshold you leave everything to your spouse or civil partner, a charity or a community amateur sports club If you give away your home to your children (including adopted, foster or stepchildren) or grandchildren, your threshold will increase to £425,000.

If you’re married or in a civil partnership and your estate is worth less than your threshold, any unused threshold can be added to your partner’s threshold when you die. This means their threshold can be as much as £850,000.

Reference: https://www.gov.uk/inheritance-tax



Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.