Inheritance Tax

 

Death Rate% Lifetime Rate% Chargeable transfers 2017-18 £’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

Small Gifts £250

Marriage

Parent – £5,000

Grandparemt – £2,500

Bride/ Groom – £2,500

Other – £1,000

Reduced Charge on gifts

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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