Inheritance Tax

Death
rate
%

Lifetime
rate
%

Chargeable transfers
2010/11 and 2009/10
£'000

Nil

Nil

0 - 325*

40

20

Over 325*



*Potentially increased for surviving spouses or civil partners who die on or after 9 October 2007.

Reliefs

Annual exemption

£3,000

Marriage

- parent

£5,000

Small gifts

£250

 

- grandparent

£2,500

 

 

 

- bride/groom

£2,500

 

 

 

- other

£1,000


 

Reduced charge on gifts within seven years of death

Years before death

0-3

3-4

4-5

5-6

6-7

% of death charge

100

80

60

40

20


 
 
 




  

   t:  020 7269 9881  e:  info@cngassociates.co.uk

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