Rates and allowances: Inheritance Tax thresholds and interest rates
Find the Inheritance Tax thresholds (or 'nil rate bands') from 1914, and see changes to Inheritance Tax interest rates from October 1988.
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Details
The document is classified by HMRC as guidance and contains information of the different thresholds in use for deaths going back to 1914.
It also shows the changes in Inheritance Tax interest rates from October 1988.
You can use this information to work out how much interest is due on an Inheritance Tax payment by using the Inheritance Tax interest calculator.
Updates to this page
Last updated
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The 'Inheritance Tax interest rates from October 1988' table has been updated with the new interest rate of 7% for late payments and the interest rate of 3.5% on repayments from 25 February 2025.
Update history
2025-03-27 12:36
The interest rates for late payments have been updated for April 2025.
2025-02-10 12:22
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate of 7% for late payments and the interest rate of 3.5% on repayments from 25 February 2025.
2025-01-27 08:29
The 20 August 2024 to 25 November 2025 date has been amended to 20 August 2024 to 25 November 2024 in the ‘Inheritance Tax interest rates from October 1988’ table.
2024-11-20 10:56
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate of 7.25% for late payments and the interest rate of 3.75% on repayments from 26 November 2024.
2024-08-05 13:59
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate of 7.50% for late payments and the interest rate of 4.00% on repayments from 20 August 2024.
2023-08-04 15:11
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate of 7.75% for late payments and the interest rate of 4.25% on payments from 22 August 2023.
2023-06-30 13:08
The Inheritance Tax interest rates have been updated.
2023-05-16 09:00
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate of 7% for late payments and the interest rate of 3.5% on payments from 31 May 2023.
2023-03-24 15:37
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate of 6.75% for late payments and the interest rate of 3.25% on payments from 13 April 2023.
2023-02-03 14:49
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate of 6.5% for late payments and the interest rate of 3% on payments from 21 February 2023.
2023-01-06 09:31
Updated to show the Inheritance Tax threshold and additional threshold (residence nil rate band) will remain at their present levels until 5 April 2028.
2023-01-05 14:22
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate of 6% for late payments and the interest rate of 2.5% on payments from 6 January 2023.
2022-11-08 08:29
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate of 5.50% for late payments and the interest rate of 2% on repayments from 22 November 2022.
2022-10-11 12:35
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate of 4.75% for late payments and the interest rate of 1.25% on payments from 11 October 2022.
2022-08-23 11:03
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate of 4.25% for late payments and the interest rate of 0.75% on payments from 23 August 2022.
2022-07-05 08:26
The interest rate for late payments changed from 3.5% to 3.75% on 5 July 2022.
2022-05-24 00:15
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate of 3.5% from 24 May 2022.
2022-04-08 12:51
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the interest on repayments rate from 5 April 2022.
2022-04-06 12:45
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate from 5 April 2022.
2022-02-21 12:13
The ‘Inheritance Tax interest rates from October 1988’ table has been updated with the new interest rate from 21 February 2022.