Inheritance Tax NRB & RNRB

On death, IHT is payable at the rate of 40%* on taxable assets that exceed the Nil Rate Band (NRB) and additional Residential Nil Rate Band (RNRB).

* Since 2012/13, 36% will apply where 10% or more of the deceased person’s net estate is left to charity.

The additional Residence NRB will be reduced by £1 for every £2 if the estate is above £2m (after deducting any liabilities but before reliefs and exemptions).

A history of the Inheritance Tax NRB and RNRB is below;

TAX YEARIHT NRBRNRB
2022/23£325,000£175,000
2021/22£325,000£175,000
2020/21£325,000£175,000
2019/20£325,000£150,000
2018/19£325,000£125,000
2017/18£325,000£100,000
2009/10 – 2016/17£325,000 
2008/09£312,000 
2007/08£300,000 
2006/07£285,000 
2005/06£275,000 
2004/05£263,000 
2003/04£255,000 
2002/03£250,000 
2001/02£242,000 

For further information;

www.gov.uk/government/publications/rates-and-allowances-inheritance-tax-thresholds-and-interest-rates/inheritance-tax-thresholds-and-interest-rates

Sign up for your month's FREE trial!

No payment card information required

Everything that you need in one place!

Make your job a lot easier with our easy-to-use range of financial planning calculators.

Designed to assist IFAs in their day-to-day activities. Using our calculators, you can quickly calculate and understand results through simple figures and/or charts.