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There are two main Inheritance Tax (IHT) Allowances, the Nil Rate Band and the Residence Nil Rate Band. Both have been frozen until 2026. This matters, because it means that any rise in estate value is not being matched by the zero tax (Nil Rate) amount. Effectively increasing the potential tax payable, and in some circumstances, this could be by a substantial amount.

This creates a “stealth tax” effect and for anyone with an estate either close to the Nil Rate levels or above it, this could have quite an impact. These allowances start from £325,000 rising to £500,000 per individual. With house price increases alone in the past few years, this creates a big net that envelopes a lot of people.

The video explains more and suggests ways individuals and couples can tackle this to offset the static allowance levels.