Inheritance Tax 2024 Uk. Kit sproson | edited by ben slater. To find out if there’s inheritance tax to pay, you need to estimate the value of the property, money and possessions (the ‘estate’) of the person who died.

The property allowance will be layered on top of your inheritance tax allowance, which has been set at £325,000 since 2010. In the uk, inheritance tax receipts are forecast to be around £7bn this tax year, representing just 0.7 per cent of tax collected, according to a report by the institute.