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09/10 Inheritance Tax

		Chargeable Transfers
Death Rate %	Lifetime Rate %	2009/10 Ł’000	2008/09 Ł’000
Nil	Nil	0 - 325	0 - 312
40	20	Over 325	Over 312

Reliefs
Annual exemption	Ł3,000	Marriage	- parent	Ł5,000
Small gifts	Ł250		- grandparent	Ł2,500
			- bride/groom	Ł2,500
			- other	Ł1,000

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

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