UK Household Wealth: What Gets Passed On

The ONS estimates the total value of privately owned wealth in Great Britain at £13.6 trillion for the period April 2020 to March 2022, the latest published round of the Wealth and Assets Survey (ONS, as at July 2026, subject to change). The median household held total wealth of £293,700 including private pensions over the same period (ONS, as at July 2026, subject to change).

This is a data piece. It brings together the published official figures on how much wealth UK households hold, what that wealth is made of, and how unevenly it is spread. It matters for estate planning because the wealth that shows up in these surveys, mostly homes and pensions, is broadly the same wealth that later passes on. It draws only on named official statistics, chiefly the Office for National Statistics Wealth and Assets Survey, alongside core HMRC figures, each cited at the point of use. It sits alongside our wider estate planning guide, our explainer on Inheritance Tax Explained, and our look at the average inheritance. Figures are current as at July 2026 and are subject to change. Where a figure covers Great Britain rather than the whole UK, or a devolved rule differs, it is flagged.

How much wealth do UK households hold?

Total privately owned wealth in Great Britain was estimated at £13.6 trillion for April 2020 to March 2022, and the median household held total wealth of £293,700 including private pensions, or £181,700 excluding them (ONS, as at July 2026, subject to change). The median is the midpoint household, so half of households held more and half held less. It is a more representative figure than a simple average, because a small number of very wealthy households pull the mean well above where most households actually sit.

These are survey estimates rather than exact values, and the ONS notes they carry a degree of sampling and non-sampling error (ONS, as at July 2026, subject to change). Accreditation of the Wealth and Assets Survey was suspended from Round 8, covering 2020 to 2022 onwards, while the ONS works to improve quality, so the latest round is best read as an indicative picture rather than a precise ledger (ONS, as at July 2026, subject to change).

Key figures at a glance

The numbers below trace one line: from total wealth held across Great Britain, to the median household, to how that wealth splits by type, and finally to how unequally it is spread. Total privately owned wealth stood at £13.6 trillion for April 2020 to March 2022 (ONS, as at July 2026, subject to change). Each row is a published statistic from a named source, with its reference period and a link.

Wealth figures cover Great Britain for April 2020 to March 2022; the Inheritance Tax share is UK-wide for 2022 to 2023. All as at July 2026 and subject to change.

How wealth is distributed

The gap between the top and the bottom is wide. To be in the wealthiest 10% of households, total wealth of £1,200,500 or more was needed, while the least wealthy 10% held £16,500 or less (ONS, as at July 2026, subject to change). The table below sets out the distribution figures side by side.

All per ONS, Household total wealth in Great Britain, and ONS privately owned wealth, April 2020 to March 2022. Great Britain. As at July 2026, subject to change.

Wealth by region

Wealth is not evenly spread across the country either. Over April 2020 to March 2022, the South East had the highest median household total wealth at £489,800, while the North East had the lowest at £179,900 (ONS, as at July 2026, subject to change). The make-up of wealth shifts by region too: property wealth ranged from 30% of household wealth in the North East to 51% in London, and private pension wealth ranged from 28% in London to 42% in the North East and Scotland (ONS, as at July 2026, subject to change).

All per ONS, Household total wealth in Great Britain, April 2020 to March 2022. Great Britain. As at July 2026, subject to change.

What the numbers mean

Read together, these figures say two things that bear on estate planning. First, the wealth that households hold is heavily concentrated in homes and pensions, 40% and 35% of the total respectively over April 2020 to March 2022 (ONS, as at July 2026, subject to change). Those are broadly the same assets that make up most estates, which is why house prices and pension rules tend to drive whether an estate approaches an Inheritance Tax threshold at all.

Second, the median household sits a long way below the wealthiest tier. Median total wealth of £293,700 including pensions is far short of the £1,200,500 needed to reach the wealthiest 10% (ONS, as at July 2026, subject to change). That helps explain why only a minority of estates ever meet an Inheritance Tax charge: 4.62% of UK deaths in 2022 to 2023, helped by the £325,000 nil-rate band and the general exemption for transfers between spouses and civil partners (HMRC, as at July 2026, subject to change; gov.uk, as at July 2026, subject to change). These are population-level figures, not a prediction for any one family, and much wealth sits in illiquid assets such as a home, which cannot always be released easily. Many people choose to review their own position with a qualified professional rather than read a national statistic as a personal outcome, and published figures can be revised, especially given the suspended accreditation of this survey round.

Coverage, nations and comparison

The wealth figures here cover Great Britain, that is England, Wales and Scotland, and not Northern Ireland, because the Wealth and Assets Survey samples Great Britain (ONS, as at July 2026, subject to change). The estimates are also not directly comparable with earlier releases, because the ONS changed its pension wealth methodology, so year-on-year movements should be read with care (ONS, as at July 2026, subject to change). Inheritance Tax, by contrast, is a UK-wide tax, so the £325,000 nil-rate band and the 4.62% share of deaths taxed apply across all four nations (gov.uk, as at July 2026, subject to change). Estate administration differs between the nations: Scotland uses confirmation rather than probate, and Northern Ireland runs its own probate system.

Sources and methodology

Every figure on this page comes from a named official source and was checked against that source before publication. No number has been estimated, rounded beyond the source, or extrapolated. Where a source gives a share, a median or a threshold, it is described as such. The Wealth and Assets Survey figures are ONS survey estimates and carry sampling and non-sampling error; accreditation of the survey was suspended from Round 8. The sources used are listed below with their reference periods.

• Total wealth, median household wealth, component shares, distribution, Gini, regional figures: ONS, Household total wealth in Great Britain, April 2020 to March 2022 (median £293,700 incl. pensions, £181,700 excl.; property 40%, pension 35%, financial 14%, physical 10%; wealthiest 10% threshold £1,200,500, least wealthy 10% £16,500 or less; Gini 0.59; South East £489,800, North East £179,900; regional property and pension share ranges).
• Total privately owned wealth and top-share figures: ONS, Privately owned wealth in the UK (£13.6 trillion total; wealthiest 10% hold 41%; wealthiest 1% hold 10%; April 2020 to March 2022).
• Share of deaths resulting in an Inheritance Tax charge: HMRC, Inheritance Tax liabilities statistics, commentary (4.62% of UK deaths, 2022 to 2023).
• Core Inheritance Tax rates and allowances: gov.uk, Inheritance Tax (£325,000 nil-rate band, spouse and civil partner exemption).

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