Inheritance Tax
|
|
Chargeable transfers |
Death rate
% |
Lifetime rate
% |
2009/10
£’000 |
2008/09
£’000 |
| Nil |
Nil |
0 - 325* |
0 - 312* |
| 40 |
20 |
Over 325* |
Over 312* |
| *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 |
|
| Back to Tax Rates 2009/10 |
Bayliss Ware Ltd. Chartered Accountants.
Registered office: 9 Stratfield Park, Elettra Avenue, Waterlooville, Hants, PO7 7XN
Registered in England. Company No.: 3180843
VAT Number: 675 9982 55
Email: info(at)baylissware.com | Telephone: 023 9279 9744 | Fax: 023 9279 9755
|