I · Glossary
Inheritance Tax allowance
£325,000 nil-rate band per person, plus £175,000 residence nil-rate band.
The IHT nil-rate band is £325,000 per person (frozen until 2030). Plus the residence nil-rate band of £175,000 where you leave the home to direct descendants. Combined: £500,000 per person. Married couples / civil partners can inherit unused allowance — up to £1m combined for the family home.
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