What Is The Inheritance Tax Threshold In 2024

What Is The Inheritance Tax Threshold In 2024. The standard inheritance tax rate is 40% of. In the current tax year, 2024/25, no inheritance tax is due on the first £325,000 of any estate, with 40% normally being charged on any amount above that.

Gifts given in the 3 years before your death are taxed at 40%. It may become mandatory to report all inheritances and all gifts in excess of the small gift exemption (€3,000 a year) as the government bids to strengthen.