IHTM06012 - Rules about excepted estates: low value estates

The conditions for these estates are that

• the deceased died on or after 6 April 2004, domiciled in the United Kingdom, and
• the gross value of the estate, including the deceased’s share of any jointly owned assets, any specified transfers (IHTM06018) and any specified exempt transfers (IHTM06019)

does not exceed the Inheritance Tax nil rate band (IHTM06011), and for deaths on or after 1 January 2022

• if the estate includes any assets held in trust, they are held in a single trust and the gross value does not exceed £250,000 (IHTM06020),
• if the estate includes foreign assets, their gross value does not exceed £100,000,
• if there are any specified transfers, their chargeable value does not exceed £250,000,
• the deceased had not made a gift with reservation of benefit.

For deaths before 1 January 2022 the maximum value for assets held in trust (IHTM06020), and the limit on the chargeable value of any specified transfers (IHTM06018), is lower.