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© MD Consulting 2012
Accountants Buckinghamshire
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Home 
Resource Centre 
Tax Tables
Inheritance Tax
Inheritance Tax
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Up to NRB |
0% |
0% |
Chargeable lifetime gifts where in excess of the NRB |
20% |
20% |
On death where in excess of the NRB |
40% |
40% |
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Total annual gifts (for each donor)* |
3,000 |
3,000 |
Small gifts (for each donee) |
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250 |
250 |
Gifts made from surplus income |
Unlimited |
Unlimited |
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Gift by a parent |
5,000 |
5,000 |
Gift by a grandparent |
2,500 |
2,500 |
Gift by any other person |
1,000 |
1,000 |
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Gifts made to individuals and certain types of trust are potentially exempt, provided the donor survives for seven years. If they die within that period taper relief (below) is available if the gift is taxable. |
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0 |
100% |
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1 |
100% |
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2 |
100% |
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3 |
80% |
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4 |
60% |
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5 |
40% |
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6 |
20% |
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7 |
0% |
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* Frozen until 2014/15 |
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© 2012
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