Your guide to UK inheritance tax and trusts 6 Will IHT apply to me? You first need to work out if your estate * is worth over £325,000 (the nil-rate band for 2020/21) and where it is available to you, the residence nil-rate band which for 2020/21 is the lower of £175,000 and the value of your residence. The table below will help you calculate this. If your estate is worth more than the nil-rate band, you should consider the IHT solutions available to you. We strongly recommend you discuss this with your financial adviser, who also has access to Quilter’s online IHT calculator. Remember, the value of your estate will change over time, so even if it’s just on the threshold now it may be over it in a year’s time. If your property increases in value, or your investments grow, these could quickly put you above the threshold, so it is important to review the value of your estate regularly. * F or the purpose of these illustrations, the term ‘estate’ relates to all your assets, wherever situated.