Uk Inheritance Tax Threshold 2024. Each individual is taxed at a rate of 40pc on all their assets above a threshold of £325,000. For single people with descendants* who leave a home to descendants worth at least £175,000, inheritance tax is charged at 40% above £500,000.
This article outlines what has changed and the relevant timescales for any amendments to iht which were made in the 2024 budget. Any portion of your estate valued above this amount is taxed at 40%.
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