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Rates and Allowances - Inheritance Tax

Inheritance tax threshold

Death Rate % Lifetime Rate % Chargeable transfers
  2013-14 2014-15
Nil Nil 0 - 325,000 0 - 325,000
40 20 Over 325,000 Over 325,000

* 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 Marriage - Grandparent £2,500
  Marriage - Bride/Groom £2,500
  Marriage - Other £1,000

Reliefs 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

Rates & Allowances

Rates and allowances for income tax, corporation tax, capital gains tax, inheritance tax and the pension scheme earnings cap are set out below.

Alexander Probin
Suite 5
125/129 Witton Street
Northwich
Cheshire
CW9 5DY
t - 01606 359008
f - 01606 359009