Rates of Inheritance Tax, Tax Rates

Winters Chartered Accountants and Registered Auditors
29 Ludgate Hill
London EC4M 7JE
England, UK

Tel:
+44 (0) 20 7919 9100

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Rates of Inheritance Tax

		Chargeable Transfers
Death Rate %	Lifetime Rate %	2005/06 £’000	2004/05 £’000
Nil	Nil	0 - 275	0 - 263
40	20	Over 275	Over 263


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

Disclaimer
The information on these tax rates is based upon the 2005 Budget and other earlier announcements and may be subject to amendment by the Finance Act.

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