Transfers on or after 6 April 2015 (husband and wife treated separately)

 

Band £ Lifetime rate Death rate
0 – 325,000 Nil Nil
Over 325,000 20% 40%
Transferable nil-rate band* £325,000
Annual exemption £3,000
Small gifts exemption £250
Marriage exemption
Gifts made by
– parent £5,000
– remoter ancestor £2,500
– party to marriage £2,500
– other person £1,000

 

* Unused nil-rate band can be transferred to surviving spouse or civil partner. Available where surviving spouse or civil partner died on or after 9 October 2007.

 

Reduced charge on gifts within seven years of death

 

Years before death Reduction in charge
0-3 NIL
3-4 20%
4-5 40%
5-6 60%
6-7 80%
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