| Tax Rates | 2019/20 | 2018/19 |
|---|---|---|
| Nil-rate band* | £325,000 | £325,000 |
| Residence nil-rate band** | £150,000 | £125,000 |
| Rate of tax on excess | 40% | 40% |
| Rate if at least 10% of net estate left to charity | 36% | 36% |
| Lifetime transfers to and from certain trusts | 20% | 20% |
| Overseas domiciled spouse/civil partner exemption | £325,000 | £325,000 |
Notes
- *up to 100% of the unused portion of a deceased spouse/civil partner’s nil-rate band can be claimed on the survivors’s death
- 100% relief: businesses, unlisted/AIM companies, certain farmland/buildings
- 50% relief: certain other business assets e.g. farmland let pre 1/9/95
- **subject to 50% taper relief for estates above £2,000,000
