Inheritance Allowance check

munchieblue

Hi

I would just like to check my inheritance allowance.
My husband died in 1995 and left his entire estate to me (his wife)

My allowance £325,000
My husbands transfer allowance £325,000
Main residence allowance £150,000

Total £800,000

Even though my husband died in 1995 does his allowance still transfer over to me (I have not re-married)?
Do I get an additional £150,000 for main residence from my late husband, increasing the total to £950,000?

Thanks

xylophone

Official Guide here

https://www.gov.uk/guidance/inheritance-tax-transfer-of-threshold

munchieblue

Thanks for the link.

So my allowance is £950,000?

Keep_pedalling

munchieblue wrote: »

Thanks for the link.

So my allowance is £950,000?

Assuming the bulk of your estate is being left to your direct descendants yes. Although if you can avoid the grim reaper until at least April 6th next year it will be £1M.