The full breakdown below sets the median amounts side by side. Each is a published ONS median for those who received an inheritance of £1,000 or more in the two years to June 2016.
| Group (median inheritance received) | Median amount | Reference period |
|---|
| All recipients | £11,000 | July 2014 to June 2016 |
| Lowest wealth quintile | £3,000 | July 2014 to June 2016 |
| Highest wealth quintile | £35,000 | July 2014 to June 2016 |
| Lowest income quintile | £6,800 | July 2014 to June 2016 |
| Highest income quintile | £15,000 | July 2014 to June 2016 |
| Ages 55 to 64 (peak band) | £33,000 | July 2014 to June 2016 |
All rows per ONS, Wealth and Assets Survey, July 2014 to June 2016. Great Britain. As at July 2026, subject to change.
Estates and Inheritance Tax in the data
At the estate level the picture looks larger, because HMRC's figures cover the value of estates rather than amounts received by individual beneficiaries. In the 2022 to 2023 tax year, 4.62% of the 683,000 UK deaths, that is 31,500 estates, resulted in an Inheritance Tax charge, and the average tax paid across those taxpaying estates was £212,000 (HMRC, as at July 2026, subject to change).
Most estates pay no Inheritance Tax at all. Where a charge does arise, the average effective rate was 13% across taxpaying estates, well below the headline 40% rate, because reliefs, exemptions and the tax-free thresholds reduce the taxable amount (HMRC, as at July 2026, subject to change). Each person has a nil-rate band of £325,000, plus a residence nil-rate band of up to £175,000 where a home passes to direct descendants, giving up to £500,000 per person and up to £1,000,000 for a married couple or civil partners who can share unused bands; the standard rate above the threshold is 40%, reduced to 36% where at least 10% of the net estate passes to charity (gov.uk, as at July 2026, subject to change).
| Measure (2022-23) | Figure |
|---|
| UK deaths in the year | 683,000 |
| Deaths resulting in an IHT charge | 4.62% (31,500 estates) |
| Average IHT paid per taxpaying estate | £212,000 |
| Average effective IHT rate on taxpaying estates | 13% |
| Total IHT liabilities created | £6.70 billion |
All rows per HMRC Inheritance Tax liabilities statistics, commentary, 2022-23. UK-wide. As at July 2026, subject to change.
What the numbers mean
Read together, these figures show that a typical inheritance is modest and unevenly spread, while large, taxable estates are a small minority. The median inheritance of £11,000 sits far below the average tax paid on a taxpaying estate of £212,000, because the two measures count different things: money received by an individual beneficiary versus tax assessed on an entire estate (ONS and HMRC, as at July 2026, subject to change).
The data also shows inheritances concentrating where wealth already exists, with a median of £35,000 in the top wealth quintile against £3,000 in the lowest (ONS, as at July 2026, subject to change). It is worth treating any headline average with care: the inheritance-received figures are from 2014 to 2016 and asset prices have moved since, while the IHT figures are more recent but describe only the taxed minority. Costs at the point of death can also erode what passes on; as a clearly attributed secondary indicator, the SunLife Cost of Dying 2025 report put the average cost of a simple attended funeral at £4,285 (SunLife Cost of Dying 2025, secondary source, as at July 2026, subject to change). What any of this means for a particular family depends entirely on their own circumstances, so it can be worth discussing the figures with a qualified professional rather than reading an average as a personal outcome.
Scotland, Wales and Northern Ireland
Inheritance Tax is a UK-wide tax, so the £325,000 nil-rate band, the up to £175,000 residence nil-rate band and the 40% rate apply the same way in England, Wales, Scotland and Northern Ireland (gov.uk, as at July 2026, subject to change). The ONS inheritance-received figures cover Great Britain, so they do not separately capture Northern Ireland, and the HMRC estate figures are UK-wide totals not broken down by nation. What differs across the nations is the surrounding succession law that shapes who inherits: Scotland in particular has its own rules, including legal rights for spouses, civil partners and children that can apply regardless of a will, which can affect how much an individual actually receives.
Sources and methodology
Every figure on this page comes from a named official source and was checked against that source before publication, with one clearly attributed secondary source. No number has been estimated, rounded beyond the source, or extrapolated. The ONS inheritance figures use the median because the distribution is skewed. The sources used are listed below with their reference periods.
- Median inheritance received, by age, income and wealth: ONS, Intergenerational transfers: the distribution of inheritances, gifts and loans, Great Britain, Wealth and Assets Survey, July 2014 to June 2016 (£11,000 median; 4% received; £3,000 to £35,000 by wealth quintile; £6,800 to £15,000 by income quintile; £33,000 for ages 55 to 64).
- Estates, share of deaths taxed, average tax paid, effective rate: HMRC, Inheritance Tax liabilities statistics, commentary, 2022-23 (31,500 taxpaying estates; 4.62% of 683,000 UK deaths; £212,000 average tax; 13% effective rate; £6.70 billion liabilities).
- Core rates and allowances: gov.uk, Inheritance Tax (£325,000 NRB, up to £175,000 RNRB, 40%/36% rates). As at July 2026.
- Secondary source, funeral cost: SunLife, Cost of Dying 2025 (£4,285 average simple attended funeral). Clearly attributed secondary source, not official statistics.
Frequently asked questions
What is the average inheritance in the UK?
The most reliable official measure is the median. Among adults who reported receiving an inheritance of £1,000 or more, the median was £11,000, though only 4% of adults reported receiving one in the two years to June 2016 (ONS, as at July 2026, subject to change). Amounts vary widely, so the median describes the receiving minority rather than everyone.
Why is the median used instead of the mean?
The ONS reports the median because inheritance amounts are heavily skewed: a small number of very large inheritances would pull a simple mean upwards and misrepresent the typical amount (ONS, as at July 2026, subject to change). The median, the middle value, generally gives a fairer sense of what a typical recipient receives.
Does the average inheritance change with age?
Yes, generally it rises with age. In the ONS analysis, the largest median inheritances went to people aged 55 to 64, at £33,000, with the amount then easing to a median of £20,000 for those aged 65 and over (ONS, as at July 2026, subject to change). Younger age bands tended to receive smaller amounts.
How much Inheritance Tax does a typical taxed estate pay?
Among the minority of estates that pay Inheritance Tax, the average paid was £212,000 in the 2022 to 2023 tax year, at an average effective rate of 13% against the headline 40% rate (HMRC, as at July 2026, subject to change). Only 4.62% of UK deaths in that year resulted in a charge, so most estates paid none.
Do beneficiaries pay tax on an inheritance they receive?
Generally, no. Inheritance Tax is charged on the estate, not on beneficiaries individually, and where it is due it is usually paid from the estate before assets are distributed (gov.uk, as at July 2026, subject to change). Income later generated by inherited assets can be taxable, so it can be worth discussing your position with a qualified professional.
Are these inheritance figures the same across the UK?
Not entirely. The ONS inheritance-received figures cover Great Britain, so they do not separately capture Northern Ireland, and the Inheritance Tax figures are UK-wide totals (HMRC, as at July 2026, subject to change). Succession law also differs, with Scotland in particular applying its own legal rights that can affect how much an individual inherits.
About Fairchild Oldfield
The Fairchild Oldfield team brings together estate planning, tax, independent financial advice and client care, working with families across England and Wales.
Fairchild Oldfield are estate planning specialists and will writers, not a firm of solicitors. This article is general information based on practical experience, not legal, tax or financial advice.
Important: This article is general information only and is not legal, tax or financial advice. Reading it does not create a professional relationship. It is based on the law of England and Wales, and other UK jurisdictions may differ. Figures and rules are current as at July 2026 and are subject to change. Before acting, many people choose to seek advice from a suitably qualified professional, such as a solicitor, a STEP practitioner, an accountant, or an FCA-authorised financial adviser, who can consider your individual circumstances.
