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HMRC internal manual

Inheritance Tax Manual

From
HM Revenue & Customs
Updated
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Rules about excepted estates: gross values

The regulations have been regularly up-dated, primarily to take account of the rising taxable threshold. The previous maximum gross values of estates have been as follows

### Deaths (all dates inclusive) ### Gross values
   
1 Apr 1981 to 31 Mar 1983 £25,000
1 Apr 1983 to 31 Mar 1987 £40,000
1 Apr 1987 to 31 Mar 1989 £70,000
1 Apr 1989 to 31 Mar 1990 £100,000
1 Apr 1990 to 31 Mar 1991 £115,000
1 Apr 1991 to 5 Apr 1995 £125,000
6 Apr 1995 to 5 Apr 1996 £145,000
6 Apr 1996 to 5 Apr 1998 £180,000
6 Apr 1998 to 5 Apr 2000 £200,000
6 Apr 2000 to 5 Apr 2002 £210,000
6 Apr 2002 to 5 Apr 2003 £220,000
6 Apr 2003 to 5 Apr 2004… £240,000
6 Apr 2004 onwards IHT nil rate band

The nil rate band is subject to the restriction for grants obtained after 5 April and before 6 August described for low value estates at IHTM06011.