Inheritance Tax

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Inheritance Tax

Taxable estate and gifts

From 6.4.08 (£)	6.4.07-5.4.08 (£)	Rate(%)
First 312,000	First 300,000	0%
Over 312,000	Over 300,000	40%

Main Exemptions

Annual gifts per donor £3,000

Small gifts per donee £250

Gifts within 7 years of death

Years	0-3	3-4	4-5	5-6	6-7
% of death rate charge	100	80	60	40	20

Nil-rate band transfers

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.