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Inheritance Tax

Death
rate
%
Lifetime
rate
%
Chargeable transfers
2018/19 and 2017/18
£'000
Nil
Nil
0 - 325 (nil rate band)
40
20
Over 325

For 2017/18, a further nil rate band of £125,000 (£100,000) may be available in relation to current or former residences. Nil rate bands of surviving spouses / civil partners may be increased by unused nil rate bands of deceased spouses / civil partners.

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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