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% |
