Inheritance Tax
| Charges on or after 6th April 2009 | Rates % | On or after 6th April 2010 |
| 0 - £325,000 | NIL | 0 - £325,000 |
| Above £325,000 | 40 | Above £325,000 |
- Lifetime chargeable transfers at half the death rate, ie 20%.
- For married couples and civil partners, the proportion of the nil rate band unused on the first death is available for use, at the rate then prevailing, on the death of the second spouse or civil partner on or after 9 October 2007.
Main Reliefs
- Business property relief of 100% for all shareholdings in qualifying unquoted trading companies and for most unincorporated trading businesses; agricultural property relief at 100% for qualifying holdings of agricultural land.
Other reliefs are also available. Please contact us.
Main Exemptions
- Annual exemption for lifetime gifts £3,000.
- Small gifts - annual amount per donee £250.
Gifts In Consideration of Marriage
- £5,000 by Parent
- £2,500 by Grandparent
- £1,000 by any other person
Reduced tax charge on transfers within 7 years of death
| Years before death | Percentage of death rates |
| 0 - 3 | 100% |
| 3 - 4 | 80% |
| 4 - 5 | 60% |
| 5 - 6 | 40% |
| 6 - 7 | 20% |
| Over 7 | NIL |
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