The Budget Menu
- Introduction
- Income Tax Rates
- Income Tax Reliefs
- Tax Credits
- Pension Premiums
- Car, Van and Fuel Benefits 2012/13
- Mileage Allowance Payments
- Individual Savings Accounts (ISAs)
- Corporation Tax
- Capital Allowances
- Value Added Tax
- Capital Gains Tax
- Inheritance Tax
- Stamp Duty & Stamp Duty Land Tax
- National Insurance
- Main Social Security Benefits
- Self Assessment: Key Dates 2012/13
- Disclaimer
Inheritance Tax
|
Death rate % |
Lifetime rate % |
Chargeable transfers 2012/13 and 2011/12 £’000 |
| Nil | Nil | 0 - 325* |
| 40 | 20 | Over 325* |
*Potentially increased for surviving spouses or civil partners who die on or after 9 October 2007.
| 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 |