Telephone (01582) 469500

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

Top Back

© Copyright Maidment Judd 2004 - 2010. All rights reserved. This information has been produced for general interest. It is therefore essential to take advice on specific issues. We are unable to take responsibility for any outcome resulting from acting upon, or refraining to act upon, this information.