The most obvious problem that unmarried couples face when making Wills is that spouse exemption for Inheritance Tax (IHT) purposes will not apply on the first death in the way that it would for a married couple or civil partners. Instead the only allowance that will be available on first death is the individual IHT Nil Rate band (currently £325,000). The value of any assets in excess of that amount will be chargeable to IHT at the rate of 40% subject to any reliefs that might be claimed for business or agricultural assets eg shares in a trading business or agricultural land.