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JGM, Solicitor
Category: Law
Satisfied Customers: 13186
Experience:  30 years as a practising solicitor.
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Is the UK government intending to raise the inheritance tax

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Is the UK government intending to raise the inheritance tax threshold in the near future

Thank you for your question. The existing nil rate band of £325000 is set until the end of the tax year 2020/2021. The residence nil rate band is £125000 for the current year 2018/2019 and will increase by £25000 per year for each of the following two tax years. I hope that helps. Please leave a positive rating so that I am credited for my time.

Customer: replied 8 months ago.
Do we know how much the new nil rate band will rise to at end of 2020/21

No. That would be a budget decision for the chancellor between now and then.

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