What Is The Inheritance Tax Threshold In 2024. The rate of iht is normally 40 per cent on the value of an estate above a threshold of £325,000. This represents 0.7 per cent of all receipts and is equivalent to 0.3 per cent of national income.
Federal tax rates range between 18% and 40%, depending on the amount above the $12.92 million threshold, or exemption amount, per person in 2023 or $13.61 million in 2024. Your spouse or civil partner has the same allowance, effectively doubling what you can pass on to £350,000.
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