Tel : 01606 810729

Fax : 01606 810475

Email : enquires@buxtonaccounting.co.uk

Inheritance Tax

Registered by the Institute of Chartered Accountants in England and Wales to carry out company audit work
Registered Office : 98 Middlewich Rd, Northwich, Cheshire, CW9 7DA
Tel : 01606 810729 - Fax : 01606 810475 - Email: general@buxtonaccounting.co.uk
Members : D.W. Buxton B.Sc.(Jt Hons) ACA - G.J. Glover - LLP OC 308268 - Registered in England and Wales

© Buxton Accounting LLP 2007

Disclaimer

Tax Calendar

ICAEW

Inland Revenue

2008/09

2007/08

Death Rate %

Nil

£0 -£312,000*

£0 -£300,000

Reliefs

• parent £5,000
• grandparent £2,500
• bride/groom £2,500
• other £1,000

Chargeable Transfer

Lifetime Rate %

Nil

40%

Over £312,000

40%

Over £300,000

Annual Exemption -

Small Gifts -

£3,000

£250

Marriage

Years Before Death

% of Death Charge

0-3

100

3-4

80

6-7

20

4-5

60

5-6

40

Reduced charge on gifts within seven years of death:

*From 9/10/2007 unused proportion of nil-rate band can be transferred to surviving spouse or civil partner.