The Nil-Rate Band (NRB) is the threshold below which an estate does not incur Inheritance Tax. If the value of the estate is below this amount, or if exemptions apply, no tax is due. The threshold can be transferred between spouses or civil partners.
Legal Reference
Outlined in the Inheritance Tax Act 1984.
As of the current tax year 2025/26, the NRB is £325,000 per individual. Transfers between spouses or civil partners are 100% exempt from IHT, and any unused NRB can be passed on to the surviving spouse.
Sources
Wikipedia – https://en.wikipedia.org/wiki/Nil_rate_band
Wikidata – https://www.wikidata.org/wiki/Q7036811
Gov.uk – https://www.gov.uk/inheritance-tax
Knowledge Graph – https://www.google.com/search?kgmid=/m/03yn93c
DBpedia – http://dbpedia.org/resource/Nil_rate_band
Product Ontology – http://www.productontology.org/id/Nil-rate_band