
Professor of Tax and Personal Finance at Aston University, UK. Director of @CPFW_Aston. Chair of @TaxResearchNet.
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ALT This bar chart is titled "Your Inheritance Tax exemptions". It shows how much you can pass on free of Inheritance Tax. The first bar shows the £325,000 basic Inheritance Tax exemption, which everyone gets. The second bar shows how you get an additional £175,000 on top of the basic £325,000 exemption, if you are passing on your primary home and estate to direct descendants, such as children or grandchildren, meaning here you can pass on a total of £500,000 tax-free. The third bar shows how you can pass on one million pounds in total, if you are married or in a civil partnership and you're passing on everything to your partner – as they will inherit both your assets and your unused Inheritance Tax exemptions.




















