Facts and Figures > Tax Tables

Inheritance Tax

																					2010/11		2009/10
Nil-rate band*																					£325,000		£325,000
Rate of tax on excess																					40%		40%
Lifetime transfers to and from certain trusts																					20%		20%
Exemption for overseas domiciled spouse/civil partner																					£55,000		£55,000

100% relief: businesses, unlisted/AIM companies, certain farmland/buildings
50% relief: certain other business assets

Reduced tax charge on gifts within 7 years of death
Years before death:																			0-3	3-4	4-5	5-6	6-7
% of death tax charge:																			100	80	60	40	20

Annual exempt gifts:																£3,000 per donor					£250 per donee

* Up to 100% of the unused proportion of a deceased spouse's/civil partner's nil-rate band can be claimed on the surviving spouse’s/civil partner’s death after 8 October 2007

© 22 June 2010. For general information only. Subject to the Finance Act 2010. It is recommended you seek competent professional advice before acting.

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The FSA does not regulate taxation advice.

Levels, bases of and reliefs from taxation may be subject to change.