Inheritance

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Inheritance Tax

Death Rate

Lifetime Rate

Chargeable transfers

 2013/14 & 2012/13

%

%

’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

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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


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