2024 Estate Tax Exemption Amount Calculator. In the current tax year, 2024/25, no inheritance tax is due on the first £325,000 of any estate, with 40% normally being charged on any amount above that. For 2023, the threshold was.
The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all. In 2023, you can make annual gifts to any one person up to a maximum of $17,000 per year ($18,000 in 2024, estimated to be $19,000 in 2025).