What is the nil-rate band threshold for inheritance tax as stated?

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Multiple Choice

What is the nil-rate band threshold for inheritance tax as stated?

Explanation:
The nil-rate band is the portion of an estate that can pass inheritance tax-free on death. The threshold is £325,000, so the first £325,000 of an individual’s estate is not charged IHT. Any value above that may be taxed at 40%, though reliefs and exemptions can reduce the overall liability. Spouses and civil partners can take advantage of exemptions and can transfer any unused part of their nil-rate band to the survivor, potentially increasing the amount that can pass tax-free on the second death.

The nil-rate band is the portion of an estate that can pass inheritance tax-free on death. The threshold is £325,000, so the first £325,000 of an individual’s estate is not charged IHT. Any value above that may be taxed at 40%, though reliefs and exemptions can reduce the overall liability. Spouses and civil partners can take advantage of exemptions and can transfer any unused part of their nil-rate band to the survivor, potentially increasing the amount that can pass tax-free on the second death.

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