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