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- Introduction
- Personal Income Tax
- Employees
- National Insurance Contributions
- Savings and Pensions
- Capital Gains Tax
- Inheritance Tax
- Business Tax
- Corporation Tax
- Value Added Tax
- Property
- Other measures
- Income Tax Rates & Allowances
- National Insurance Contributions (Table D)
Budget sections
Inheritance Tax
Rates
The March 2021 Budget fixed the IHT nil rate band at £325,000 until the end of 2025/26. Holding the threshold at the same amount for 17 years (from 6 April 2009) will bring far more people into the scope of the tax. However, the £175,000 ‘residential nil rate band enhancement’ on death transfers can reduce the impact where it applies. A married couple may now be able to leave up to £1 million free of IHT to their direct descendants (£325,000 plus £175,000 from each parent), but the rules are complicated, and the prospect of the nil rate band being fixed for the next 4 years increases the importance of proper IHT planning.