Inheritance Tax

2015-2016

Death Rate %Lifetime Rate %Chargeable Transfers £000
NilNil0-325*
4020Over 325*

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

Reliefs

Annual exemption £3,000

Small Gifts £250

Marriage

  • parent £5,000
  • grandparent £2,500
  • bride/groom £2,500
  • other £1,000

Reduced charge on gifts within seven years of death

Years before death0-33-44-55-66-7
% of death charge10080604020

If you have any questions or would like further information please call on 01527 68235